Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/263912 
Authors: 
Year of Publication: 
2022
Publisher: 
ZBW - Leibniz Information Centre for Economics, Kiel, Hamburg
Abstract: 
Twenty years ago, Peter Moffatt (2002) posed this general question: “Is Giffen behavior compatible with the axioms of consumer theory?” The present paper addresses this very same question, but only as it applies to the Wold-Juréen (1953) utility function. In this paper, we demonstrate that the Wold-Juréen (1953) utility function exhibits both Giffenity and compatibility with the axioms of consumer theory. Our singular interest in the Wold-Juréen (1953) utility function stems from the fact that this utility function continues to be the preeminent theoretical benchmark in the study of Giffenity.
Subjects: 
Wold-Juréen (1953) utility function
Slutsky decomposition
Giffen Behavior
Axioms of Consumer Theory
JEL: 
A22
A23
D11
Document Type: 
Working Paper

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