Is Giffen behaviour compatible with the axioms of consumer theory?

Moffatt, Peter G. ORCID: https://orcid.org/0000-0002-3825-0537 (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
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Behavioural Economics Faculty of Social Sciences > Research Groups > Applied Econometrics And Finance Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences Faculty of Science > Research Groups > Statistics
Depositing User:	Vishal Gautam
Date Deposited:	01 Jul 2002
Last Modified:	18 Jun 2026 15:51
URI:	https://ueaeprints.uea.ac.uk/id/eprint/16675
DOI:	10.1016/S0304-4068(02)00033-2

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