Is Giffen behaviour compatible with the axioms of consumer theory?

Moffatt, Peter G. (2002) Is Giffen behaviour compatible with the axioms of consumer theory? Journal of Mathematical Economics, 37 (4). pp. 259-267. ISSN 0304-4068

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Abstract

A family of direct utility functions is constructed which exhibit the characteristic of Giffenity, while satisfying the axioms of convexity and monotonicity. The approach starts by specifying a price offer curve, C0, with a required backward-bending segment. Then a set of convex indifference curves is constructed having price offer curve arbitrarily close to C0.

Item Type:	Article
Faculty \ School:	Faculty of Social Sciences Faculty of Social Sciences > School of Economics
Depositing User:	Vishal Gautam
Date Deposited:	01 Jul 2002
Last Modified:	15 Dec 2022 01:41
URI:	https://ueaeprints.uea.ac.uk/id/eprint/16675
DOI:	10.1016/S0304-4068(02)00033-2

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