Two Conditions Which Induce Giffen Behavior In Any Numerical Analysis When Applied To The Wold-Juréen (1953) Utility Function

Robert Sproule and Michael Karras

MPRA Paper from University Library of Munich, Germany

Abstract: The present paper extends the existing literature on the relationship between the Wold-Juréen (1953) utility function and Giffen behavior, by extending the recent contribution by Sproule (2020) to the domain of numerical methods. In particular, this paper offers an analytical framework, by which a numerical analysis can used to induce the Wold-Juréen (1953) utility function to exhibit Giffen behavior. Our framework also demonstrates the instructional value to the Wold-Juréen (1953) utility function, especially in those microeconomics courses, in which calculus is not employed or is not emphasized.

Keywords: Wold-Juréen (1953) utility function; Slutsky decomposition; Giffen paradox; pedagogy. (search for similar items in EconPapers)
JEL-codes: A22 A23 D01 (search for similar items in EconPapers)
Date: 2022-03-25
New Economics Papers: this item is included in nep-ore and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:112558

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