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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. JEL classification: D11 Un conte de deux villes et un bien de Giffen. Cet article présente un scénario dans lequel une maison d’Eden Mills en Ontario est un bien de Giffen. Les conditions dérivées dans cet exemple s’appliquent aussi à d’autres biens indivisibles.

Suggested Citation

  • Rod Garratt, 2005. "A tale of two cities and a Giffen good," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 38(1), pages 49-56, February.
    • Handle: RePEc:wly:canjec: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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