A Child Garden of Concrete Giffen Utility Functions: A Theoretical Review

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 69-88 from Springer

Abstract: Abstract We present a theoretical review of the literature on concrete utility functions for Giffen and inferior goods within the context of the utility maximisation problem under a budget restriction and provide new functional forms. The presentation is organised around the specific properties such utility functions have. These properties include strict increasingness, quasi-concavity, and the applicability of Gossen’s second law.

Keywords: Utility Function; Demand Function; Utility Maximisation; Text Book; Unique Maximizer (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_6

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DOI: 10.1007/978-3-642-21777-7_6

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