Logo
Munich Personal RePEc Archive

A Precondition-Free Demonstration That the Wold-Juréen (1953) Utility Function (Always) Generates a Giffen Good

Sproule, Robert and Karras, Michael (2022): A Precondition-Free Demonstration That the Wold-Juréen (1953) Utility Function (Always) Generates a Giffen Good.

[img]
Preview
PDF
MPRA_paper_113005.pdf

Download (306kB) | Preview

Abstract

Both Weber (1997) and Sproule (2020) offered a precondition for the existence of Giffenity when the decision maker's utility function is the Wold-Juréen (1953) utility function. The purpose of this paper is to show that all preconditions (including those due to Weber (1997) and Sproule (2020)) are superfluous, in the present demonstration that the inferior good in the Wold-Juréen (1953) utility function is also a Giffen good. Our success relies upon our use of both of the Marshallian demand functions, rather than just one, as is the case in both Weber (1997) and Sproule (2020). In brief, the present paper offers a precondition-free demonstration that the Wold-Juréen (1953) utility function will (always) generate a Giffen good.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.