Talk:Giffen good/Archives/2015

Potato

I think the most obvious example has been overlooked. Of course this is a novel idea and a marketers dream but the example I'm thinking of is not the most compelling.

The cheapest product on a spectrum of products where the industry as a whole has seen forced price increases. For example, if markets have forced a dramatic increase in food market prices, people might opt more for cheaper things like potatoes. But those have gone up in price, too. But they are still the cheapest because everything else has gone up. Of course this is not as satisfying as something that independently gains this status. The potato only goes up in price and sales because of the rest of the food market around it. But I don't see giffen by extension as an exclusionary scenario. Now this could be taken further if the relationship is coincidental not causal. For example, if a cool new 4K TV comes out with some unique features that have little or no competition, it could go up in both price and sales as it were familiarized and marketed, but before it was undercut by a competing product. Depending on how short of a run is satisfying, this could be any number of products going through a natural cycle, more of a phase and less of a phenomenon. Of course this then is more boring than the potato. B137 (talk) 13:42, 14 November 2015 (UTC)

• I'm sorry I completely overlooked this section. Philosophy might say this was still my original idea, but at least I added another example with the product cycle thing. B137 (talk) 13:45, 14 November 2015 (UTC)