Demand and equilibrium with inferior and Giffen behaviors

Cuong Le Van and Ngoc-Sang Pham

MPRA Paper from University Library of Munich, Germany

Abstract: We introduce a class of differentiable, strictly increasing, strictly concave utility functions exhibiting an explicit demand of a good which may have Giffen behavior. We provide a necessary and sufficient condition (bases on prices and consumers’ preferences and income) under which this good is normal, inferior or Giffen good. Interestingly, with this utility, the equilibrium price of a good may increase in the aggregate supply for this good.

Keywords: Inferior good; Giffen good; equilibrium price. (search for similar items in EconPapers)
JEL-codes: D11 D51 (search for similar items in EconPapers)
Date: 2019-03-12
New Economics Papers: this item is included in nep-mic and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/92709/1/MPRA_paper_92709.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/95595/1/MPRA_paper_95595.pdf revised version (application/pdf)

Related works:
Journal Article: Demand and equilibrium with inferior and Giffen behaviors (2020)
Working Paper: Demand and equilibrium with inferior and Giffen behaviors (2020)
Working Paper: Demand and equilibrium with inferior and Giffen behaviors (2020)
Working Paper: Demand and equilibrium with inferior and Giffen behaviors (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:92709

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().