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Journal Articles Mathematical Social Sciences Year : 2020

Demand and equilibrium with inferior and Giffen behaviors

Abstract

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.

Dates and versions

hal-03261235 , version 1 (15-06-2021)

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Cuong Le Van, Ngoc-Sang Pham. Demand and equilibrium with inferior and Giffen behaviors. Mathematical Social Sciences, 2020, 103, pp.45-50. ⟨10.1016/j.mathsocsci.2019.11.005⟩. ⟨hal-03261235⟩
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