Giffen goods violate the law of demand where higher prices increase demand

the verdict

SUPPORTED

the evidence backs this

Recorded sources

2 sources for · 0 against

Counts group repeated records of the same source within each side. They do not measure evidence strength or source independence.

Economic literature confirms that Giffen goods represent an exception to the law of demand, where higher prices lead to increased demand due to a strong negative income effect.

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Evidence for · 2

en.wikipedia.org: Giffen good

Recorded source metadata

en.wikipedia.org: Giffen good. en.wikipedia.org. https://en.wikipedia.org/wiki/Giffen_good

States that a Giffen good is a product consumed more as price rises, violating the law of demand.

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More for · 1

link.springer.com: Giffen’s Paradox | Springer Nature Link

Recorded source metadata

link.springer.com: Giffen’s Paradox | Springer Nature Link. link.springer.com. https://link.springer.com/rwe/10.1057/978-1-349-95121-5_1109-2

Explains that Giffen's paradox means demand can be upward sloping, violating the law of demand.

Source citation format

The paper trail · every fact has a biography

first checked01 Aug 2026

judged → SUPPORTED · 7501 Aug 2026

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