Simple Utility Functions with Giffen Demand

We present some simple utility functions whose Marshallian demand functions possess the Giffen property: at some price-wealth pairs, the demand for a good marginally increases in response to an increase in its own price. The utility functions satisfy standard preference properties throughout the usual consumption set of nonnegative bundles: continuity, monotonicity, and convexity.

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Year of publication:	2004-10
Authors:	Sørensen, Peter Norman
Institutions:	Økonomisk Institut, Københavns Universitet
Subject:	preferences \| Giffen good

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Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 04-22 10 pages
Classification:	D11 - Consumer Economics: Theory
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005749818