Giffen good

Definition

In microeconomics and consumer theory, a Giffen good is a product that people consume more of as the price rises and vice versa, violating the law of demand.

Related concepts

Abilene paradox Alfred Marshall Allais paradox American Economic Review Anti-rival good Applied Economics (journal)Apportionment paradox Argument from free will Arrow's impossibility theorem Arrow information paradox Bacon Barber paradox Barbershop paradox Berry paradox Bertrand paradox (economics)Bhartrhari's paradox Birthday problem Boy or girl paradox Braess' paradox Bulletin of Mathematical Biology Burali-Forti paradox Buridan's ass Buridan's bridge Capital (economics)Capital good Card paradox Catch-22 (logic)Chainstore paradox Chicken or the egg China Club good Coherence (fairness)Common-pool resource Common good (economics)Complementary good Composite good Condorcet paradox Consumables Consumer behaviour Consumer choice Consumer theory Credence good Crocodile dilemma Curry's paradox Decision-making paradox Demerit good Digital public goods Downs–Thomson paradox Dream argument Drinker paradox Durable good Easterlin paradox Edgeworth paradox Ellsberg paradox Epicurean paradox Epimenides paradox European paradox Excludability Experience good Fenno's paradox Final good Fitch's paradox of knowability Fredkin's paradox Free choice inference Free good George Stigler Gibson's paradox Global commons Global public good Good (economics)Goods Great Famine (Ireland)Grelling–Nelson paradox Heat death paradox Hedgehog's dilemma Hilbert's paradox of the Grand Hotel House monotonicity Household goods I know that I know nothing Icarus paradox Imperative logic Income and fertility Income effect Independent goods Inferior good Information good Intangible good Intermediate good Inventor's paradox Jevons paradox Journal of Political Economy Kavka's toxin puzzle Kerosene Kleene–Rosser paradox Law of demand Leontief paradox Lerner paradox Liar paradox Liberal paradox List of paradoxes Lottery paradox Lucas paradox Luxury goods Mandeville's paradox Mayfield's paradox Meno Mere addition paradox Merit good Metzler paradox Microeconomics Monty Hall problem Moore's paradox Morton's fork Navigation paradox Necessity good Neutral good New riddle of induction Newcomb's problem Noodle Normal good Normal goods No–no paradox Olbers's paradox Omnipotence paradox Opposite Day Ordinary good Paradox Paradox of analysis Paradox of competition Paradox of fiction Paradox of hedonism Paradox of nihilism Paradox of prosperity Paradox of the Court Paradox of thrift Paradox of toil Paradox of tolerance Paradox of value Paradox of voting Paradoxes of material implication Paradoxes of set theory Parrondo's paradox Peter Newman (economist)Pinocchio paradox Plato's beard Positional good Poverty Preface paradox Preparedness paradox Prevention paradox Price Price elasticity of demand Principles of Economics (Marshall)Prisoner's dilemma Private good Product (business)Productivity paradox Public good (economics)Quine's paradox Raven paradox Resource curse Rice Richard's paradox Rivalry (economics)Robert Giffen Russell's paradox Scitovsky paradox Search good Service recovery paradox Sherwin Rosen Ship of Theseus Shochu Siegel's paradox Sleeping Beauty problem Sorites paradox St. Petersburg paradox Staple food State-population monotonicity Substitute good Substitution effect Superior good Supply and demand Temperature paradox The Antitrust Paradox The Economic Journal The Green Paradox The Nation Three prisoners problem Tullock paradox Two envelopes problem Unexpected hanging paradox University of Chicago Used good Veblen good Veridical paradox Victorian era What the Tortoise Said to Achilles Wheat White Horse Dialogue Willpower paradox Wittgenstein on Rules and Private Language Yablo's paradox Zeno's paradoxes

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