Potato Paradoxes

@article{Rosen1999PotatoP,
  title={Potato Paradoxes},
  author={Sherwin Rosen},
  journal={Journal of Political Economy},
  year={1999},
  volume={107},
  pages={S294 - S313}
}
  • S. Rosen
  • Published 1999
  • Journal of Political Economy
Price and quantity data prove that Irish potatoes in the 1840s were not Giffen goods. Intertemporal trade‐offs required by the fact that a sizable fractiono of the potato crop is needed for seed crops can produce unusual market dynamics. The Irish experience is well described by a normal demand model in which a permanent decline in the productivity of seed potatoes was at first mistaken as a transitory crop failure. These mistakes provoked “oversaviong” of seed crop in a population in dire… Expand
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