Giffen behavior and duality from the viewpoint of the relation between the shapes of price indifference and indifference curves

Masaki Fujimoto ()
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Masaki Fujimoto: Kindai University

SN Business & Economics, 2022, vol. 2, issue 11, 1-20

Abstract: Abstract This paper presents the two relations between the shapes of price indifference and indifference curves. The first relation between the geometric conditions for Giffenity implies that one curves fan out in the downward direction if and only if the other curves fan out in the upward direction. The second relation implies that the more sharply one curve bends, the flatter the other curve becomes and as the two goods become better complements (substitutes), their prices become better substitutes (complements).

Keywords: Consumer theory; Duality; Giffen behavior; Price indifference curve; Indifference curve (search for similar items in EconPapers)
JEL-codes: D01 D11 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s43546-022-00341-z

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