On Giffen-like goods

Minagawa, Junichi

doi:10.1016/j.econlet.2011.12.039

Cited by 8 publications

(9 citation statements)

References 15 publications

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“…In particular, heavy consumers were strongly motivated to purchase organic food based on value perception [16,18]. On the other hand, there are some attempts to represent consumer behavior from a Giffen perspective in terms of not a traditional approach [19][20][21].…”

Section: Determinants For Consumption Of Organic Agricultural Productsmentioning

confidence: 99%

What Are South Korean Consumers’ Concerns When Buying Eco-Friendly Agricultural Products?

Kim¹,

Lee²

2019

Sustainability

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This study aimed to analyze how perceptions of eco-friendly agricultural products affect food choice criteria, based on a sample of 225 study participants (consumers) in Sejong City, South Korea. We focused on the following criteria: Health, food safety, environmental protection, trust, reputation, nutrition, and taste. We used factor analysis to classify responses into three types of consumer attitude: Organic-minded, pesticide-free focused, and local food-minded. Then, we applied a logit analysis to determine values of agricultural products (dependent variables) and consumer attitudes toward eco-friendly agricultural products (independent variables). We found that South Korean consumers were not motivated by health or environmental protection, nor were they substantially concerned about food safety; their utmost concern was the reputation of organic products. Pesticide-free focused and local food-minded consumers placed a higher value on nutrition and taste, respectively, likely because, in South Korea, organic agriculture is a component of eco-friendly agriculture, leading to the entanglement in consumer perceptions of organic and pesticide-free products. This paper discusses how phased development strategies of organic agriculture, including the eco-friendly agricultural policy, have failed. It is therefore needed to develop and implement new policies for South Korean eco-friendly agriculture.

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Section: Determinants For Consumption Of Organic Agricultural Productsmentioning

confidence: 99%

What Are South Korean Consumers’ Concerns When Buying Eco-Friendly Agricultural Products?

Kim¹,

Lee²

2019

Sustainability

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“…Hence, based on the substitution effect, there could be possibility for negotiation, speculation or renunciation of some basic human rights as food (Medina, Cascante 2011;Franco 2011). The scarcity-based choice paradox is that in the classical picture the possibility of choice becomes a luxury so abundant, a concept so hiper-rational and economicist, that it not consider other possibilities more realistic, less evident, more universal, less paradoxical and more economically decisive such as the impossibility level to choose freely because of several additional exogenous and endogenous constraints or rigidities (Huck, Rasul 2011;Attanasio et al 2012;Minagawa 2012;Xingang, Pingkuo 2013;Minten et al 2013;Kamphorst, Swank 2013).…”

Section: The "Saving Effect"mentioning

confidence: 99%

“…Although Giffen demand has potentially greater explanatory power than classical demand, it has generally been ignored despite many authors having cited and studied the "Giffen paradox" (Stigler 1947;Silberberg, Walker 1984;Battalio et al 1991;McKenzie 2002;Luptacik 2010;Attanasio et al 2012;Minagawa 2012). Its explanatory power is relevant in contexts or situations which most closely approach reality, for which studies of consumer behaviour and purchaser motivation show that the traditional hypothesis of rationality has been relaxed.…”

Section: Introductionmentioning

confidence: 99%

“…The marketing perspective on Giffen demand allows us develop an alternative explanation of consumer behaviour that is more extensive than the Marshallian law of decreasing demand, offering a broader analytical framework and leading a reinterpretation of the traditional explanation (e.g. Attanasio et al 2012;Minagawa 2012). It does not invalidate or preclude phenomena of inverse relationships between price and quantity demanded, although such relationships are only verifiable for intervals of usual sale prices, as indeed was acknowledged by Marshall (1890), and remain a conjecture for other situations.…”

Section: Introductionmentioning

confidence: 99%

“…Marketing strategy and consumer income levels affect whether the nature of goods change from normal to inferior and vice versa, depending on the economic circumstances (e.g. Minagawa 2012;Kamphorst, Swank 2013;Minten et al 2013). In the following, we shall examine various aspects of the demand function based on the fundamental concepts presented in most introductory undergraduate economics textbooks (e.g.…”

Section: Introductionmentioning

confidence: 99%

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Principles of Economethics From the Giffen Demand

Franco

2014

Technological and Economic Development of Economy

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This paper raises an approach to the study of consumer behaviour and markets with a particular emphasis on agricultural commodities. It develops an analysis of demand for certain products during a recent economic recession in Spain by showing the behaviour of some of them as Giffen goods in some years. According to the theory of Giffen demand, there is a direct (positive) relationship between price and the quantity demanded. Thus, the income effect outweighs the substitution effect. The main contributions of this work can be summarized in the next three points: 1) This paper studies the consumer behaviour from a Giffen perspective, beyond a traditional and rational utility approach; 2) It also suggests a framework to analyse several socioeconomic proposals and theories related to the sustainability and Human Rights-based ethic level (intrinsic to Giffen behaviour); 3) Finally, this theory is a significant contribution to design better economic policies. The analysis of Giffen phenomenon has greater explanatory power than the classical theory of Marshall. It also helps to reveal a number of important effects that are usually ignored and that could contribute to clarify some current economic phenomena.

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Optimal taxation under a consumption target

Minagawa

Upmann

2017

Soc Choice Welf

Self Cite

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Optimal Taxation under a Consumption Target Terms of use: Documents in EconStor may AbstractWe consider a government facing a constraint on the total consumption of a specific good with varieties, and formulate an optimal commodity tax problem under a consumption target. We obtain a uniform pricing result (similar to the familiar uniform taxation rule): setting the same consumer price for all varieties constitutes a solution if, and only if, the compensated price elasticities of the varieties with respect to an untaxed good are all equal and non-negative. If, however, this elasticity condition does not hold, the optimal policy is at variance with the wellknown inverse elasticity rule and with the Corlett-Hague rule.JEL-Codes: H210, H230.

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On Giffen-like goods

Cited by 8 publications

References 15 publications

What Are South Korean Consumers’ Concerns When Buying Eco-Friendly Agricultural Products?

What Are South Korean Consumers’ Concerns When Buying Eco-Friendly Agricultural Products?

Principles of Economethics From the Giffen Demand

Optimal taxation under a consumption target

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