A Class of Symmetric and Quadratic Utility Functions Generating Giffen Demand

• 主要作者: LANDI, Massimiliano
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2015
• 主題: Economics; Economic Theory
• 在線閱讀: https://ink.library.smu.edu.sg/soe_research/1645; https://ink.library.smu.edu.sg/context/soe_research/article/2644/viewcontent/ClassSymmetricQuadraticGiffen_2015.pdf
• 機構: 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...