Introduction

Wim Heijman () and Pierre Mouche ()
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Wim Heijman: Wageningen Universiteit
Pierre Mouche: Wageningen Universiteit

A chapter in New Insights into the Theory of Giffen Goods, 2012, pp 1-4 from Springer

Abstract: Abstract This book deals with the neoclassical consumer theory of Giffen goods. According to this theory these are goods for which the quantity demanded increases if their price increases. There are other theories that describe mechanisms for such relationships, leading to, for example, Veblen goods. The following example, being a variant of an example by Marshall that initiated the thinking about Giffen goods, illustrates their plausible existence.

Keywords: Utility Function; Price Change; Utility Maximisation; Demand Curve; Indirect Utility Function (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-642-21777-7_1

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DOI: 10.1007/978-3-642-21777-7_1

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