On the Definitions of Giffen and Inferior Goods

Pierre Mouche () and Willem Pijnappel ()
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Pierre Mouche: Wageningen Universiteit

A chapter in New Insights into the Theory of Giffen Goods, 2012, pp 39-52 from Springer

Abstract: Abstract We consider Giffen goods for the very general setting of an upper semi-continuous utility function. Two not equivalent definitions for this notions are discussed. Concerning this we show that there exists a (well-defined) non-decreasing demand function $${\mathbb{R}}_{++} \rightarrow \mathbb{R}$$ that is nowhere strictly increasing. Also we reconsider the relation between Giffen and inferior goods.

Keywords: Inferior Goods; Giffen Goods; Demand Correspondence; Utility Maximization Problem; Engel Functions (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_4

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DOI: 10.1007/978-3-642-21777-7_4

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