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the claim
The Law of Demand does not hold for Marshallian demand
the verdict
SUPPORTED
the evidence backs this
Recorded sources
2 sources for · 0 against
Is it true that the Law of Demand does not hold for Marshallian demand?
Yes. While standard economic theory assumes a downward-sloping demand curve, empirical and experimental studies demonstrate that exceptions such as Giffen behavior and the loss of confidence effect can lead to upward-sloping or non-monotonic demand.
Verdict: SUPPORTED · 2 sources for, 0 against · Last checked
The analysis
Judged against the evidence record for claims of this kind.
Evidence for · 2
Provides real-world evidence of Giffen behavior (upward sloping demand for staple foods among extremely poor households), demonstrating that the Law of Demand does not always hold.
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RT, J. & NH, M. (2008). Giffen Behavior and Subsistence Consumption.. peer-reviewed literature. https://doi.org/10.1257/aer.98.4.1553
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More for · 1
Demonstrates through an experimental study that the loss of confidence effect can cause market demand curves to be non-monotonically decreasing, violating the Law of Demand.
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J, M., CF, G., & CP, R. (2019). The law of demand and the loss of confidence effect: An experimental study.. peer-reviewed literature. https://doi.org/10.1016/j.heliyon.2019.e02685
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Judged against the evidence record for claims of this kind.
Receipt History
first checked05 Aug 2026
judged → SUPPORTED · 7105 Aug 2026
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