Giffen goods and their reflexion property

Peter Moffatt; H.K. Moffatt

doi:10.1111/manc.12003

Giffen goods and their reflexion property

Peter Moffatt, H.K. Moffatt

Research output: Contribution to journal › Article › peer-review

2 Citations (Scopus)

Abstract

The following ‘reflexion property’ of Giffen behaviour is proved: the two-good direct utility function (DUF) obtained by reversing the sign of two-good indirect utility function (IUF) displays Giffen behaviour with respect to one of the two goods if and only if the IUF itself displays Giffen behaviour with respect to the other good. A particular IUF showing Giffen behaviour for both goods (in non-overlapping regions of the price space) is constructed and the reflexion property is verified. The example IUF is extended to more than two goods, and Giffenity is verified in this case.

Original language	English
Pages (from-to)	129-142
Number of pages	14
Journal	The Manchester School
Volume	82
Issue number	2
DOIs	https://doi.org/10.1111/manc.12003
Publication status	Published - Mar 2014

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10.1111/manc.12003

Peter Moffatt
- P.Moffattuea.acuk
- School of Economics - Professor of Econometrics
- Norwich Institute for Healthy Aging - Member
- Centre for Behavioural and Experimental Social Science - Member
- Applied Econometrics And Finance - Member
- Behavioural Economics - Member
Person: Research Group Member, Research Centre Member, Academic, Teaching & Research

Cite this

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AB - The following ‘reflexion property’ of Giffen behaviour is proved: the two-good direct utility function (DUF) obtained by reversing the sign of two-good indirect utility function (IUF) displays Giffen behaviour with respect to one of the two goods if and only if the IUF itself displays Giffen behaviour with respect to the other good. A particular IUF showing Giffen behaviour for both goods (in non-overlapping regions of the price space) is constructed and the reflexion property is verified. The example IUF is extended to more than two goods, and Giffenity is verified in this case.

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Giffen goods and their reflexion property

Abstract

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Peter Moffatt

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