Simple Utility Functions with Giffen Demand

Peter Sørensen

No 04-22, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: We present some simple utility functions whose Marshallian demand functions possess the Giffen property: at some price-wealth pairs, the demand for a good marginally increases in response to an increase in its own price. The utility functions satisfy standard preference properties throughout the usual consumption set of nonnegative bundles: continuity, monotonicity, and convexity.

Keywords: preferences; Giffen good (search for similar items in EconPapers)
JEL-codes: D11 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2004-10
New Economics Papers: this item is included in nep-mic
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Journal Article: Simple Utility Functions with Giffen Demand (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:0422

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