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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)...
Persistent link: https://www.econbiz.de/10005548572
A two-sector, two-commodity model, in which the consumption externalities of one good are treated as public “bads,†is used to evaluate diagrammatically the case for consumption subsidies for the other good. The model is discussed within the context of urban transportation where public...
Persistent link: https://www.econbiz.de/10010781750
We introduce a formal definition of health equivalent to dead into a standard model to develop previously unrecognized insights. We find that the health state viewed as equivalent to dead will depend on an individual's health prognosis, probability of survival, and rate of time preference. Our...
Persistent link: https://www.econbiz.de/10008863827
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The performance criterion receiving the closest attention in the literature on "managerialism" is the rate of return on stockholders' equity. It is argued here that of more immediate concern to the shareholder is the rate of return on his investment in the stock of the firm. The determinants of...
Persistent link: https://www.econbiz.de/10005551105