As Bitcoin streaks toward $6,000, I continue to think about what will drive it higher. In the near term, it struck me that Bitcoin is behaving as a Giffen good. Giffen goods are defined as "those ...

Giffen goods are non-luxury items that generate higher demand when prices rise, creating an upward-sloping demand curve contrary to standard laws of demand.

Simply put, a Giffen good is a paradox of economics where rising prices lead to higher demand, which is in contrast to the negatively sloped demand curve that students learn in Economics 101.

A Giffen good — named for 19th-century Scottish economist Sir Robert Giffen — is an odd thing. It's something that people buy more of as the price goes up.

A Giffen good is one for which demand increases with price - that's obviously irrational, but Wintel expense may qualify because price increases do seem to precede demand surges, there have ...

A Giffen good defies normal market behavior -- when the price of the good rises, demand for it actually increases. The existence of the phenomenon was first identified by a Victorian-era British ...

Consumer goods which rise in price when demand increases and fall in price when demand drops.

Good-quality watches are widely available for less than $100, but to qualify as a Veblen good, a watch would probably carry a four-, five-, or six-digit price tag. Veblen Goods vs. Giffen Goods ...

So you’ve taken over the world. 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.

Eurozone Crisis: Now Everyone's Going Bust, Swiss Bonds Become a Giffen Good. By Tim Worstall, Former Contributor. Nov 23, 2011, 12:52pm EST. Save Article. This article is more than 10 years old.