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GIFFEN'S PARADOX REVISITED
Author(s) -
Berg Morten
Publication year - 1987
Publication title -
bulletin of economic research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 29
eISSN - 1467-8586
pISSN - 0307-3378
DOI - 10.1111/j.1467-8586.1987.tb00233.x
Subject(s) - economics , argument (complex analysis) , irish , mathematical economics , econometrics , neoclassical economics , philosophy , chemistry , biochemistry , linguistics
The main argument of this paper is that the theoretical definition of Giffen's paradox is ambiguous to the extent that it ignores the initial endowments of the consumer. A Slutsky equation incorporating positive initial endowments is used to discuss the Irish demand for potatoes in 1845‐49, and some conditions to test whether or not the Irish potato was a Giffen good are deduced.