Munich Personal RePEc Archive

Demand and equilibrium with inferior and Giffen behaviors

Le Van, Cuong and Pham, Ngoc-Sang (2019): Demand and equilibrium with inferior and Giffen behaviors.

There is a more recent version of this item available.
[thumbnail of MPRA_paper_92709.pdf] PDF

Download (303kB)


We introduce a class of differentiable, strictly increasing, strictly concave utility functions exhibiting an explicit demand of a good which may have Giffen behavior. We provide a necessary and sufficient condition (bases on prices and consumers’ preferences and income) under which this good is normal, inferior or Giffen good. Interestingly, with this utility, the equilibrium price of a good may increase in the aggregate supply for this good.

Available Versions of this Item

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.