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This leads to an upward-sloping demand curve for housing.
Invoking condition (6), consumers in group one will have an upward-sloping demand curve because:
The upward-sloping demand curve is the result of an externality.
On the demand side, a similarly constituted externality can produce the upward-sloping demand curves that are thought to be produced by preferences such as desires to mimic the behavior of others.
For fruit juice, however, in this study, the upward-sloping demand curves suggest that these consumers did not find the brands substitutable for one another and hence these consumers were less sensitive to moderate price differences.
Restaurant eating and attending a concert (Becker 1991), housing (Dusansky and Wilson 1993), conspicuous consumption goods such as fashionable clothes and jewels (Veblen 1934; Corneo and Jeanne 1997) are examples of goods that may exhibit upward-sloping demand curves.
2004) reflect this empirical foundation by showing mixed relative demand curves for purchasing data from individuals as well as aggregated across purchasers and stores, where the regression lines show either neutral, downward-, or upward-sloping demand curves.