Demand and equilibrium with inferior and Giffen behaviors

Article dans une revue: We introduce a class of differentiable, strictly increasing, concave utility functions exhibiting an explicit demand of a good which may have Giffen behavior. We provide a necessary and sufficient condition (based on prices and consumers’ preferences and income) under which this good is normal, inferior or Giffen. A general equilibrium analysis is also provided.

Auteur(s)

Cuong Le Van, Ngoc-Sang Pham

Revue
  • Mathematical Social Sciences
Date de publication
  • 2020
Mots-clés
  • Inferior good
  • Giffen good
  • Equilibrium price
Pages
  • 45-50
Version
  • 1
Volume
  • 103