Journal of the Graduate Research Center
Abstract
For the uninitiated, Giflin's paradox is the name of a condition from economic analysis. One considers a consumer with a certain income faced with the decision of how much of two goods to purchase. Intuitively, one anticipates that this will depend upon the prices to be paid for the goods, and anticipates that if a price is increased the amount purchased by the consumer will decrease ( the other price being constant). If it happens that with an increase in price of a good, the demand for that good increases, then this paradoxical situation is called Giflin's Paradox. The theorem proved here is concerned, in a sense, with the "personality" of the consumer, in that we show under certain standard assumptionsm that the "personal references" of a consumer are not such that he would behave in the manner of Giflin's paradox in all of his choices.
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Recommended Citation
Edmondson, Don E.
(1962)
"A Proof of a Theorem on Giffin's Paradox,"
Journal of the Graduate Research Center: Vol. 30:
No.
1, Article 2.
Available at:
https://scholar.smu.edu/journal_grc/vol30/iss1/2
