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An Excel Spreadsheet Numerical Example of a Giffen Good

This file enables a professor or student to use Excel to generate Giffen behavior. It provides a concrete example of a utility function that exhibits the paradoxical property that more of a good is purchased as its price rises, ceteris paribus. For every price increase, optimal consumption is tracked and it is obvious that an upward sloping demand curve is created....

Disciplines:

Business / Economics / Micro

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More about this material

Material Type:: Drill and Practice
Date Added to MERLOT:: December 29, 2022
Date Modified in MERLOT:: January 2, 2023
Author:: Humberto Barreto
Submitter:: Cathy Swift

Primary Audience:: College Lower Division, College Upper Division
Technical Format:: Website
Mobile Compatibility:: Not specified at this time
Language:: English
Cost Involved:: No
Source Code Available:: Unknown
Creative Commons:: This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International