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In Search of A Giffen Input: A Comprehensive Analysis of The Wold-Juréen (1953) Production Function

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  • Sproule, Robert
  • Karras, Michael

Abstract

The Wold-Juréen (1953) functional form has proven to be invaluable to the development of consumer theory, and to the general search for utility functions which have the potential to yield a Giffen good. Because of this success, it seems only natural to ask about the value of Wold-Juréen (1953) functional form to the development of producer theory, and to the general quest for production functions which have the potential to yield a Giffen factor input. To date, this set of research questions remains unanswered, aside from one unenlightening comment by Weber (2001, page 622). The present paper answers these questions by offering a comprehensive analysis of the Wold�Juréen (1953) production function in the ongoing search for production functions which have the potential to yield a Giffen factor.

Suggested Citation

  • Sproule, Robert & Karras, Michael, 2022. "In Search of A Giffen Input: A Comprehensive Analysis of The Wold-Juréen (1953) Production Function," MPRA Paper 113007, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:113007
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    File URL: https://mpra.ub.uni-muenchen.de/113007/1/MPRA_paper_113007.pdf
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    References listed on IDEAS

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    1. Sproule, Robert A., 2020. "The delimitation of Giffenity for the Wold-Juréen (1953) utility function using relative prices: A note," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 14, pages 1-8.
    2. Chambers,Robert G., 1988. "Applied Production Analysis," Cambridge Books, Cambridge University Press, number 9780521314275.
    3. Fuss, Melvyn & McFadden, Daniel (ed.), 1978. "Production Economics: A Dual Approach to Theory and Applications," Elsevier Monographs, Elsevier, edition 1, number 9780444850133.
    4. Christian E. Weber, 1997. "The Case of a Giffen Good: Comment," The Journal of Economic Education, Taylor & Francis Journals, vol. 28(1), pages 36-44, March.
    5. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (I): The Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 1, number fuss1978.
    6. Weber, Christian E, 2001. "A Production Function with an Inferior Input: Comment," Manchester School, University of Manchester, vol. 69(6), pages 616-622, December.
    7. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (II): Applications of the Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 2, number fuss1978a.
    8. Keizo Nagatani, 1978. "Substitution and Scale Effects in Factor Demands," Canadian Journal of Economics, Canadian Economics Association, vol. 11(3), pages 521-527, August.
    9. Epstein, Gil S & Spiegel, Uriel, 2000. "A Production Function with an Inferior Input," Manchester School, University of Manchester, vol. 68(5), pages 503-515, September.
    10. Robert T. Jensen & Nolan H. Miller, 2008. "Giffen Behavior and Subsistence Consumption," American Economic Review, American Economic Association, vol. 98(4), pages 1553-1577, September.
    11. Gil S. Epstein & Uriel Spiegel, 2000. "A Production Function with an Inferior Input," Manchester School, University of Manchester, vol. 68(5), pages 503-515, September.
    12. Christian E. Weber, 2001. "A Production Function with an Inferior Input: Comment," Manchester School, University of Manchester, vol. 69(6), pages 616-622, December.
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    Cited by:

    1. Sproule, Robert, 2023. "The Anomalies Of The Wold-Juréen (1953) Functional Form In Overview," MPRA Paper 117835, University Library of Munich, Germany.

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    More about this item

    Keywords

    Slutsky decomposition; Giffen factor; Wold-Juréen (1953) production function; pedagogy.;
    All these keywords.

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • A23 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Graduate
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

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