Giffen Goods: A Duality Theorem
We show that if two goods whose Indirect Utility Function V (p; q) exhibits the Giffen property for good 1 in some subdomain G(p; q) of the positive quadrant, and if U(x; y) is a Direct Utility Function given by U(x; y) = -V (x; y) and therefore having the same convex contours as V, then U also exhibits the Giffen property for good 2 rather than for good 1, in the corresponding region G(x; y) of the positive (x; y) quadrant. The converse is also true.
|Date of creation:||15 Sep 2010|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: 44 1603 591131
Fax: +44(0)1603 4562592
Web page: http://www.uea.ac.uk/eco/
More information through EDIRC
|Order Information:|| Postal: Helen Chapman, School of Economics, University of East Anglia, Norwich Research Park, Norwich, NR4 7TJ, UK|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Butler, David J & Moffatt, Peter G, 2000. "The Demand for Goods under Mixture Aversion," Manchester School, University of Manchester, vol. 68(3), pages 349-59, June.
When requesting a correction, please mention this item's handle: RePEc:uea:aepppr:2010_12. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alasdair Brown)
If references are entirely missing, you can add them using this form.