The Last Word on Giffen Goods?

John H. Nachbar
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John H. Nachbar: Washington University, St. Louis

GE, Growth, Math methods from EconWPA

Abstract: Giffen goods have long been a minor embarrassment to courses in microeconomic theory. The standard approach has been to dismiss Giffen goods as a theoretical curiosity without empirical content. This note points out that the underlying theory is itself seriously flawed.

Keywords: Giffen goods; demand theory; general equilibrium theory (search for similar items in EconPapers)
JEL-codes: A22 A23 C62 D51 (search for similar items in EconPapers)
Date: 1996-02-14
Note: Type of Document - Postscript from AMS-LaTeX; prepared on Macintosh; to print on Postscript; pages: 14
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