Single Peakedness and Giffen Demand
I provide a simple example of a single peaked utility function that generates a Giffen demand. The utility function is smooth, non piecewise defined, strictly concave but not globally increasing. A full characterization of the parameter conditions under which the Giffen demand arises is provided. In...
Saved in:
| Main Author: | |
|---|---|
| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2012
|
| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/1324 https://ink.library.smu.edu.sg/context/soe_research/article/2323/viewcontent/Giffeng_refv3.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | Singapore Management University |
| Language: | English |