A Child Garden of Concrete Giffen Utility Functions: A Theoretical Review

Research output: Chapter in Book/Report/Conference proceedingChapter

3 Citations (Scopus)

Abstract

We present a theoretical review of the literature on concrete utility functions for Giffen and inferior goods within the context of the utility maximisation problem under a budget restriction and provide new functional forms. The presentation is organised around the specific properties such utility functions have. These properties include strict increasingness, quasi-concavity, and the applicability of Gossen’s second law.
Original languageEnglish
Title of host publicationNew Insights into the Theory of Giffen Goods
EditorsW.J.M. Heijman, P.H.M. van Mouche
Place of PublicationBerlin
Pages69-88
Number of pages171
Publication statusPublished - 2012

Publication series

NameLecture Note in Economics and Mathematical Systems
PublisherSpringer
Number655

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