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The Last Word on Giffen Goods?
John Nachbar GE, Growth, Math methods from EconWPA
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)
Note: Type of Document - Postscript from AMS-LaTeX; prepared on Macintosh; to print on Postscript; pages: 14
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Related works: Journal Article: The last word on Giffen goods? (1998) This item may be available elsewhere in EconPapers: Search for items with the same title.
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpge:9602001
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