Abstract

The following ‘reflexion property’ of Giffen behaviour is proved: the two‐good direct utility function (DUF) obtained by reversing the sign of two‐good indirect utility function (IUF) displays Giffen behaviour with respect to one of the two goods if and only if the IUF itself displays Giffen behaviour with respect to the other good. A particular IUF showing Giffen behaviour for both goods (in non‐overlapping regions of the price space) is constructed and the reflexion property is verified. The example IUF is extended to more than two goods, and Giffenity is verified in this case.

Full Text

Published Version

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.