A difficulty in the search for Giffen behavior

Christian Weber

Atlantic Economic Journal, 1997, vol. 25, issue 3, 289-296

Abstract: Gilley and Karels [1991] argue that economists should search for Giffen goods in cases where two or three goods are chosen subject to two constraints. This paper reconsiders their three-good model. With a third good added, traditional comparative statics analysis, which is absent from the simpler model, becomes crucial. The Slutsky equation with a negative own substitution effect reappears, suggesting that one good which is automatically Giffen in the two-good, two-constraint model may have a downward-sloping demand curve when the third good is added to the model. Copyright International Atlantic Economic Society 1997

Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:kap:atlecj:v:25:y:1997:i:3:p:289-296

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DOI: 10.1007/BF02298410

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