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This paper shows how the presence of an indivisible good can cause a divisible good to be inferior and possibly Giffen. Indivisibility is shown to be central to a discussion by J. R. Hicks on inferior goods.
Persistent link: https://www.econbiz.de/10005604477
A scenario is provided in which a house in Eden Mills, Ontario, is a Giffen good. The conditions derived in the example apply to other indivisible goods as well.
Persistent link: https://www.econbiz.de/10005608879