Publication Type

Journal Article

Publication Date

1-2015

Abstract

I provide a simple example of a quadratic utility function that generates a Giffen demand. The utility function is symmetric, increasing and concave. Interestingly, the Giffen effect arises in the subspace where the utility function is strictly increasing and strictly concave. A full characterization of the parameter conditions under which the Giffen demand arises is provided.

Discipline

Economics | Economic Theory

Research Areas

Economic Theory

Publication

Mathematical Social Sciences

Volume

73

First Page

50

Last Page

54

ISSN

0165-4896

Identifier

10.1016/j.mathsocsci.2014.11.006

Publisher

Elsevier

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://doi.org/10.1016/j.mathsocsci.2014.11.006

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