In Search of A Giffen Input: A Comprehensive Analysis of The Wold-Juréen (1953) Production Function
In Search of A Giffen Input: A Comprehensive Analysis of The Wold-Juréen (1953) Production Function
Author(s): Robert SPROULESubject(s): Business Economy / Management, Financial Markets
Published by: ASERS Publishing
Keywords: Decision analysis; Arbitrary production function; Wold-Jur´een (1953) production function; Slutsky decomposition; Giffen factor;
Summary/Abstract: The Wold-Jur´een (1953) utility function serves as an exemplar of those utility functions which have the potential to yield a Giffen good. As such, this utility function has contributed much to the overall development of consumer theory. Because of the said success of the Wold-Jur´een (1953) utility function, it seems only natural to ask this: can the Wold-Jur´een (1953) functional form also serve as an exemplar of those production functions which have the potential to yield a Giffen factor? Since our review of the literature suggests that no such question has ever been posed, there in lies the purpose of the present paper.
Journal: Journal of Mathematical Economics and Finance
- Issue Year: VIII/2022
- Issue No: 2(15)
- Page Range: 87-100
- Page Count: 14
- Language: English
- Content File-PDF
