Abstract
The authors present a theoretical review of the literature on simple concrete continuous 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 article is organised around the specific properties such utility functions have. These properties include increasingness, quasi-concavity, and the applicability of Gossen's Second Law.
| Original language | English |
|---|---|
| Place of Publication | Wageningen |
| Publisher | Mansholt Graduate School |
| Number of pages | 17 |
| Publication status | Published - 2009 |
Publication series
| Name | Working paper / Mansholt Graduate School of Social Sciences : Discussion paper |
|---|---|
| Publisher | Mansholt Graduate School |
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Keywords
- economics
- utility functions
- economic analysis
- consumer goods
Cite this
Heijman, W. J. M., & van Mouche, P. H. M. (2009). On simple concrete giffen utility functions : old and new results. (Working paper / Mansholt Graduate School of Social Sciences : Discussion paper). Wageningen: Mansholt Graduate School.