words about this problem from Microeconomics and Behavior by Robert H.Frand:
Modern historians dispute whether the potato ever was really a Giffen food. Whatever the resolution of this dispute, the potato story does illustrate the characteristics that a Giffen good would logically have to possess. First, it would not only have to be inferior, but also have to occupy a large share of the consumer's budget. Otherwise, an increase in tits price would not create a significant reduction in real purchasing power. (Doubleing the price of keyrings,for example, does not amke anyone appreciably poorer.) The second characteristic required of a Giffen good is that it have a relatively small substitution effect, one small enough to be overwhelmed by the income effect.
In practice, it is extremely unlikely that a good will satisfy both properties required of a Giffen good. Most goods, after all, account for only a tiny share of the consumer's total expenditures. Moreover, as noted, the more broadly a good is defined, the less likely it is to be inferior. Finanlly, inferior goods by their very nature tend to be substitute ground sirloin for hamburge, for example, is precisely what makes hamburger tend to be an inferior good.
The Giffen good is an intriguing anomaly, chiefly useful for testing students' understanding of the subtleties of income and substitution effects....
[此贴子已经被作者于2006-10-26 17:52:32编辑过]