Demand and equilibrium with inferior and Giffen behaviors

Cuong Le Van and Ngoc-Sang Pham

Mathematical Social Sciences, 2020, vol. 103, issue C, 45-50

Abstract: We introduce a class of differentiable, strictly increasing, concave utility functions exhibiting an explicit demand of a good which may have Giffen behavior. We provide a necessary and sufficient condition (based on prices and consumers’ preferences and income) under which this good is normal, inferior or Giffen. A general equilibrium analysis is also provided.

Keywords: Inferior good; Giffen good; Equilibrium price (search for similar items in EconPapers)
Date: 2020
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Related works:
Working Paper: Demand and equilibrium with inferior and Giffen behaviors (2020)
Working Paper: Demand and equilibrium with inferior and Giffen behaviors (2020)
Working Paper: Demand and equilibrium with inferior and Giffen behaviors (2020)
Working Paper: Demand and equilibrium with inferior and Giffen behaviors (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:matsoc:v:103:y:2020:i:c:p:45-50

DOI: 10.1016/j.mathsocsci.2019.11.005

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