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A tale of two cities and a Giffen good

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  • Rod Garratt

Abstract

A scenario is provided in which a house in Eden Mills, Ontario, is a Giffen good. The conditions derived in the example apply to other indivisible goods as well.

Suggested Citation

  • Rod Garratt, 2005. "A tale of two cities and a Giffen good," Canadian Journal of Economics, Canadian Economics Association, vol. 38(1), pages 49-56, February.
    • Handle: RePEc:cje:issued:v:38:y:2005:i:1:p:49-56
    DOI: 10.1111/j.0008-4085.2005.00268.x
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    References listed on IDEAS

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    1. Philip J. Cook & Daniel A. Graham, 1977. "The Demand for Insurance and Protection: The Case of Irreplaceable Commodities," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 91(1), pages 143-156.
    2. Marshall, John M, 1984. "Gambles and the Shadow Price of Death," American Economic Review, American Economic Association, vol. 74(1), pages 73-86, March.
    3. Ng Yew Kwang, 1965. "Why do People Buy Lottery Tickets? Choices Involving Risk and the Indivisibility of Expenditure," Journal of Political Economy, University of Chicago Press, vol. 73(5), pages 530-530.
    4. Garratt, Rod & Marshall, John M, 1994. "Public Finance of Private Goods: The Case of College Education," Journal of Political Economy, University of Chicago Press, vol. 102(3), pages 566-582, June.
    5. Hoy, Michael & Robson, Arthur J., 1981. "Insurance as a Giffen good," Economics Letters, Elsevier, vol. 8(1), pages 47-51.
    6. Rod Garratt, 1997. "Indivisibilities, Inferior Goods, and Giffen Goods," Canadian Journal of Economics, Canadian Economics Association, vol. 30(1), pages 246-251, February.
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    Cited by:

    1. Yochanan Shachmurove & Janusz Szyrmer, 2011. "Sir Robert Giffen Meets Russia in Early 1990s," PIER Working Paper Archive 11-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.

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    More about this item

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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