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The Demand For Goods Under Mixture Aversion

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  • David J. Butler
  • Peter G. Moffatt

Abstract

We analyse the demand for goods which the consumer has an aversion to consuming in mixtures. Examples are presented. It is suggested that the axiom of non‐satiation should be relaxed in order for the model to be internally consistent. The indifference map with mixture aversion and satiation is constructed and is shown to have very unusual properties. It is then demonstrated that constrained maximization of the underlying utility function can result in both goods being consumed. It is also demonstrated that the type of goods analysed here can exhibit the rare characteristic of Giffenity.

Suggested Citation

  • David J. Butler & Peter G. Moffatt, 2000. "The Demand For Goods Under Mixture Aversion," Manchester School, University of Manchester, vol. 68(3), pages 349-359, June.
    • Handle: RePEc:bla:manchs:v:68:y:2000:i:3:p:349-359
    DOI: 10.1111/1467-9957.00198
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    Cited by:

    1. Massimiliano Landi, 2014. "A Class of Symmetric and Quadratic Utility Functions Generating Giffen Demand," Working Papers 21-2014, Singapore Management University, School of Economics.
    2. Landi, Massimiliano, 2015. "A class of symmetric and quadratic utility functions generating Giffen demand," Mathematical Social Sciences, Elsevier, vol. 73(C), pages 50-54.
    3. Moffatt, Peter G., 2002. "Is Giffen behaviour compatible with the axioms of consumer theory?," Journal of Mathematical Economics, Elsevier, vol. 37(4), pages 259-267, July.

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