A Class of Symmetric and Quadratic Utility Functions Generating Giffen Demand

• المؤلف الرئيسي: LANDI, Massimiliano
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2015
• الموضوعات: Economics; Economic Theory
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soe_research/1645; https://ink.library.smu.edu.sg/context/soe_research/article/2644/viewcontent/ClassSymmetricQuadraticGiffen_2015.pdf
• المؤسسة: Singapore Management University

I provide a simple example of a quadratic utility function that generates a Giffen demand. The utility function is symmetric, increasing and concave. Interestingly, the Giffen effect arises in the subspace where the utility function is strictly increasing and strictly concave. A full characterizatio...