New Insights Into the Theory of Giffen Goods Lecture Notes in Economic and Mathematical Systems

Annotation One might expect that after their identification in the 19th century, all aspects of Giffen goods would have been studied by now. This appears not to be the case. This book contains the latest insights into the theory of Giffen goods. In the past, surprisingly few goods could be categorized as Giffen. This may be because of a lack of understanding of the character of these goods. Therefore, the theories explained in this book may also produce a solid basis for further empirical research in the field. Experts throughout the world have contributed to this book, which predominantly pursues a mathematically rigorous approach. It may be used by researchers in the field of fundamental economics and in graduate-level courses in advanced microeconomics Notes On Some Theories Of Giffen Behaviour / Rein Haagsma -- Exact And Useful Optimization Methods For Microeconomics / Erik J. Balder -- On The Definitions Of Giffen And Inferior Goods / Pierre Von Mouche And Willem Pijnappel -- Giffen Behaviour And Strong Asymmetric Gross Substitutability / Kris De Jaegher -- A Child Garden Of Concrete Giffen Utility Functions : A Theoretical Review / Wim Heijman And Pierre Von Mouche -- On Giffen's Paradox / Herman O.a. Wold -- Giffen Demand For Several Goods / Peter Norman Sørensen -- Giffen Behaviour Independent Of The Wealth Level / Junko Doi, Kazumichi Iwasa, And Koji Shimomura -- A Class Of Indirect Utility Functions Predicting Giffen Behaviour / Peter G. Moffatt -- Close Substitutes And Upward-sloping Demand Curves / Jan Rouwendal -- Lotteries And The Law Of Demand / Rodney J. Garratt. Wim Heijman, Pierre Von Mouche, Editors. Includes Bibliographical References. Front Matter....Pages i-xii Introduction....Pages 1-4 Notes on Some Theories of Giffen Behaviour....Pages 5-19 Exact and Useful Optimization Methods for Microeconomics....Pages 21-38 On the Definitions of Giffen and Inferior Goods....Pages 39-52 Giffen Behaviour and Strong Asymmetric Gross Substitutability....Pages 53-67 A Child Garden of Concrete Giffen Utility Functions: A Theoretical Review....Pages 69-88 On Giffen’s Paradox....Pages 89-96 Giffen Demand for Several Goods....Pages 97-104 Giffen Behavior Independent of the Wealth Level....Pages 105-126 A Class of Indirect Utility Functions Predicting Giffen Behaviour....Pages 127-141 Close Substitutes and Upward-Sloping Demand Curves....Pages 143-159 Lotteries and the Law of Demand....Pages 161-171 One might expect that after their identification in the 19th century, all aspects of Giffen goods would have been studied by now. This appears not to be the case. This book contains the latest insights into the theory of Giffen goods. In the past, surprisingly few goods could be categorized as zGiffen.y This may be because of a lack of understanding of the character of these goods. Therefore, the theories explained in this book may also produce a solid basis for further empirical research in the field. Experts throughout the world have contributed to this book, which predominantly pursues a mathematically rigorous approach. It may be used by researchers in the field of fundamental economics and in graduate-level courses in advanced microeconomics