Giffen Behavior and Subsistence Consumption
نویسندگان
چکیده
منابع مشابه
Giffen Behavior and Subsistence Consumption.
This paper provides the first real-world evidence of Giffen behavior, i.e., upward sloping demand. Subsidizing the prices of dietary staples for extremely poor households in two provinces of China, we find strong evidence of Giffen behavior for rice in Hunan, and weaker evidence for wheat in Gansu. The data provide new insight into the consumption behavior of the poor, who act as though maximiz...
متن کاملGiffen Behavior and Subsistence Consumption Online Appendix
Traditionally, the possibility of Giffen behavior has been motivated by an argument similar to Marshall’s. We will argue that the need to maintain subsistence consumption is the critical factor leading to Giffen behavior, drawing connections between Marshall’s verbal argument, two mathematical models of the situation, and the graphical analysis found in microeconomics textbooks. Although much o...
متن کاملTable of Contents Giffen Behavior and Subsistence Consumption Zeckhauser and Two Anonymous Referees for Valuable Comments and Discussions, and I. Giffen Behavior and Consumption among the Poor
This paper provides the first real-world evidence of Giffen behavior, i.e., upward sloping demand. Subsidizing the prices of dietary staples for extremely poor households in two provinces of China, we find strong evidence of Giffen behavior for rice in Hunan, and weaker evidence for wheat in Gansu. The data provide new insight into the consumption behavior of the poor, who act as though maximiz...
متن کاملEconomic growth with subsistence consumption
Four stylized facts of economic growth in DCs are set up initially. Despite its obvious simplicity the linear growth model with subsistence consumption is able to reproduce two of them: a rise in the saving rate along with per capita income as well as b-divergence. The rate of convergence shows extraordinarily low values at early stages of economic development. Hence, the big diversity in growt...
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This paper shows that information effects per se are not responsible for the Gi®en goods anomaly affecting competitive traders’ demands in multi-asset, noisy rational expectations equilibrium models. The role that information plays in traders’ strategies also matters. In a market with risk averse, uninformed traders, informed agents have a dual motive for trading: speculation and market making....
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2008
ISSN: 0002-8282
DOI: 10.1257/aer.98.4.1553