The health production function of the canonical health-capital model is generalized to allow the state of health to affect the total and marginal products of health investment. If the total and marginal products of health investment are nonincreasing functions of the state of health, then the...

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...

An exhaustive comparative statics analysis of a general price taking cost-minimizing model of the firm operating under the influence of price-induced technical progress is carried out from a dual vista. The resulting refutable implications are observable and thus amenable to empirical...