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The Demand for Goods under Mixture Aversion

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  • Butler, David J
  • Moffatt, Peter G

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. Copyright 2000 by Blackwell Publishers Ltd and The Victoria University of Manchester

Suggested Citation

  • Butler, David J & Moffatt, Peter G, 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:349-59
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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. Henry Keith Moffatt & Peter Moffatt, 2010. "Giffen Goods: A Duality Theorem," University of East Anglia Applied and Financial Economics Working Paper Series 012, School of Economics, University of East Anglia, Norwich, UK..
    4. Massimiliano Landi, 2012. "Single Peakedness and Giffen Demand," Working Papers 02-2012, Singapore Management University, School of Economics.
    5. 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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