Publication Type
Journal Article
Version
acceptedVersion
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
Citation
LANDI, Massimiliano.
A Class of Symmetric and Quadratic Utility Functions Generating Giffen Demand. (2015). Mathematical Social Sciences. 73, 50-54.
Available at: https://ink.library.smu.edu.sg/soe_research/1645
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1016/j.mathsocsci.2014.11.006