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
URL de la notice HAL
Version
- 1
Volume
- 103