Sproule, Robert (2019): The Delimitation of Giffenity for The WoldJuréen (1953) Utility Function Using Relative Prices: A Note.

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Abstract
In the study of Giffen behavior or “Giffenity”, there remains a paradox. On one hand, the WoldJuréen (1953) utility function has been touted as the progenitor of a multidecade search for those twogood, particular utility functions, which exhibit Giffenity. On the other hand, there is no evidence that the WoldJuréen (1953) utility function has ever been fully evaluated for Giffenity, with perhaps one minor exception, Weber (1997). But there, Weber (1997) showed that the Giffenity of Good 1 depends upon the relative magnitude of income visàvis the price of Good 2. Weber’s precondition is so vague that it lacks broad appeal. This paper offers a new and a clear cut precondition for Giffen behavior under the WoldJuréen (1953) utility function. That is, we show that if the price of Good 1 is greater than or equal to the price of Good 2, then Good 1 is a Giffen good.
Item Type:  MPRA Paper 

Original Title:  The Delimitation of Giffenity for The WoldJuréen (1953) Utility Function Using Relative Prices: A Note 
Language:  English 
Keywords:  Slutsky decomposition, Giffen paradox, WoldJuréen (1953) utility function 
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 > D1  Household Behavior and Family Economics > D11  Consumer Economics: Theory 
Item ID:  96768 
Depositing User:  Dr Robert Sproule 
Date Deposited:  12 Nov 2019 14:49 
Last Modified:  12 Nov 2019 14:49 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/96768 