Not all Giffen Goods, are Inferior Goods
It is well known in the economic literature that the labor supply curve can bend backwards and, therefore, that leisure can be a Giffen good. It is also known that leisure can be a normal good. This article proves that if leisure is a Giffen good, it has to be a normal good. This result also proves...
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Formato: | Desconocido (Unknown) |
Lenguaje: | Inglés (English) |
Publicado: |
Universidad de los Andes, Facultad de Economía, CEDE
2021
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Acceso en línea: | http://hdl.handle.net/1992/49601 |