In Search of A Giffen Input: A Comprehensive Analysis of The Wold-Juréen (1953) Production Function

Sproule, Robert and Karras, Michael (2022): In Search of A Giffen Input: A Comprehensive Analysis of The Wold-Juréen (1953) Production Function.

Abstract

The Wold-Juréen (1953) functional form has proven to be invaluable to the development of consumer theory, and to the general search for utility functions which have the potential to yield a Giffen good. Because of this success, it seems only natural to ask about the value of Wold-Juréen (1953) functional form to the development of producer theory, and to the general quest for production functions which have the potential to yield a Giffen factor input. To date, this set of research questions remains unanswered, aside from one unenlightening comment by Weber (2001, page 622). The present paper answers these questions by offering a comprehensive analysis of the Wold�Juréen (1953) production function in the ongoing search for production functions which have the potential to yield a Giffen factor.

• Item Type: MPRA Paper
• Language: English
• Keywords: Slutsky decomposition, Giffen factor, Wold-Juréen (1953) production function, pedagogy.
• Subjects: A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics > A22 - Undergraduate; A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics > A23 - Graduate; D - Microeconomics > D2 - Production and Organizations > D21 - Firm Behavior: Theory

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