A Giffen good is a low-income, non-luxury product that defies standard economic and consumer demand theory. Demand for Giffen goods rises when the price rises and falls when the price falls.

In the near term, it struck me that Bitcoin is behaving as a Giffen good. Giffen goods are defined as "those goods whose demand rises as their price rises." This is the opposite of how most goods ...

Two economists have hunted down a real-world example of one of economics' rarest theoretical creatures - a Giffen good. A Giffen good defies normal market behavior -- when the price of the good ...

The only “C” I got in college was in intermediate macroeconomics, but I remember one economics term that I really loved — the “Giffen good.” With ordinary, rational economic behavior ...

Those who agree probably haven’t heard of the concept of a “Giffen good.” Simply put, a Giffen good is a paradox of economics where rising prices lead to higher demand, which is in contrast ...

This bit from a Robert Jensen contribution to the Freakonomics blog about an attempt to find a Giffen good will explain, first what this is and secondly why it's interesting in an esoteric sort of ...

The consumption of staple foods among poor communities is one example of a Giffen good. As the price of rice increases, poor consumers cannot afford more luxury items such as meat but still need ...

Good for you! But how are you going to make the most of your newfound kingdom? By wringing all the money you can out of the oppressed poor using Giffen goods. Welcome! First of all, let me salute ...

It really does take something to make a government bond a Giffen Good, something previously only observed with wheat noodles in North China and rice in South China. But that is what seems to be ...

A normal good is one whose demand increases when people's incomes start to increase, giving it a positive income elasticity of demand. Giffen goods are rare forms of inferior goods that have no ...

A Veblen good is generally a high-quality, coveted product. This stands in contrast to a Giffen good, which also has an upward-sloping curve but is a non-luxury product with no easily available ...