In 1944, Marschak and Andrews published a seminal paper on how to obtain consistent estimates of a production technology. The original formulation of the econometric model regarded the joint estimation of the production function together with the first-order necessary conditions for...

Levy (2002) and Dragone (2009) showed that rational agents tend to become overweight. Their result is shown to be equivalent to a seemingly innocuous assumption placed on the instantaneous utility function. It is also shown that their models can rationalize agents who are underweight, or even...