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A Tale of Two Cities and a Giffen Good

Author

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  • Garratt, Rod

Abstract

A scenerio 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. Journal of Economic Literature classification number: D11.

Suggested Citation

  • Garratt, Rod, 2003. "A Tale of Two Cities and a Giffen Good," University of California at Santa Barbara, Economics Working Paper Series qt93z368z7, Department of Economics, UC Santa Barbara.
    • Handle: RePEc:cdl:ucsbec:qt93z368z7
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    References listed on IDEAS

    as
    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. 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.
    3. 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.
    4. Hoy, Michael & Robson, Arthur J., 1981. "Insurance as a Giffen good," Economics Letters, Elsevier, vol. 8(1), pages 47-51.
    5. Marshall, John M, 1984. "Gambles and the Shadow Price of Death," American Economic Review, American Economic Association, vol. 74(1), pages 73-86, March.
    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

    Keywords

    Indivisibilities; gambles; Giffen goods;
    All these keywords.

    JEL classification:

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

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