Abstract
A continuous, strictly increasing quasi-concave utility function that exhibits Giffen behaviour is given.
Comment from the editors: this article concerns a reprint from Nordisk Tidsskrift for Teknisk Økonomi, 12:283–290, 1948. As there were no abstract and no section headings we have created them ourselves.
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Notes
- 1.
For the notion of indifference map and related concepts employed in this paper, see e. g. H. Wold: A synthesis of pure demand analysis I–III, Skandinavisk Aktuarietidsskrift 1943–1944.
- 2.
Loc. cit., III, p. 74.
- 3.
Loc. cit., II, p. 221 ff.
- 4.
A.L. Bowley: The mathematical groundwork of economics. Oxford 1924.
- 5.
For further comments on this situation, see H. Wold, loc. cit., II, § 31, esp. p. 230.
- 6.
Cf. H. Wold, loc. cit., II, § 37, esp, p. 228.
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Wold, H.O.A. (2012). On Giffen’s Paradox. In: Heijman, W., von Mouche, P. (eds) New Insights into the Theory of Giffen Goods. Lecture Notes in Economics and Mathematical Systems, vol 655. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-21777-7_7
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DOI: https://doi.org/10.1007/978-3-642-21777-7_7
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