Goodman, Allen C.; Stano, Miron; Tilford, John M. - In: Southern Economic Journal 65 (1999) 4, pp. 791-806
Michael Grossman’s health investment model provides significant insights into allocations between both leisure and income and health and nonhealth goods. Our geometric extension (i) integrates labor–leisure choice with the consumer’s production of both health and nonhealth goods and (ii)...