Giffen's Paradox Revisited

Morten Berg

Bulletin of Economic Research, 1987, vol. 39, issue 1, 79-89

Abstract: The main argument of this paper is that the theoretical definition of Giffen's paradox is ambiguous to the extent that it ignores the initial endowments of the consumer. A Slutsky equation incorporating positive initial endowments is used to discuss the Irish demand for potatoes in 1845-1849, and a set of conditions to test whether or not the Irish potato was a Giffen good are deduced. Copyright 1987 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

Date: 1987
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