When a consumer tries to buy a popular item that is overpriced when the demand is higher for the item.
Related information about giffen good:
- Giffen good - Wikipedia, the free encyclopedia
In economics and consumer theory, a Giffen good is one which people paradoxically consume more of as the price rises, violating the law of demand. In normal ...
- Giffen Good Definition | Investopedia
To be a Giffen good, the item must lack easy subsitutes and it must be an inferior good, or a good for which demand declines as the level of income in the ...
- Giffen good
A Giffen good is an extreme type of inferior good. The negative income effect of changes in price of a Giffen good is actual stronger than the substitution effect.
- What is a giffen good and what does the graph look like? - YouTube
Mar 8, 2012 ... This video goes over what a giffen good is and what the demand curve will look like for a giffen good. More information on this topic can be ...
- Greg Mankiw's Blog: A Real World Giffen Good
Jul 18, 2007 ... A Real World Giffen Good. Chapter 21 of my favorite economics textbook has a brief discussion of Giffen goods--goods for which a lower price ...
- What is Giffen good? definition and meaning
Definition of Giffen good: Consumer item having the paradoxical quality of being in greater demand when its price rises, and lower in demand when the price ...
- Is Gold A Giffen Good? | ZeroHedge
Oct 13, 2012 ... Via Paul Mylchreest of Seymour Pierce,Is Gold a Giffen good?We are at a critical point for gold and the gold equities.With regard to the latter, ...
- Giffen Good - Dictionary Definition of Giffen Good
Definition: A Giffen Good is a good that exeriences increased demand for when the price rises and decreased demand for when the price falls. Mainly a ...