New insights in the canonical model of health capital

被引：1
|
作者：
Caputo, Michael R. [1 ]
机构：
[1] Univ Cent Florida, Dept Econ, POB 161400, Orlando, FL 32816 USA
来源：
MATHEMATICAL SOCIAL SCIENCES | 2021年 / 110卷
关键词：
Health capital; Comparative dynamics; Refutable implications; Optimal control; Decision rules; COMPARATIVE DYNAMICS; DEMAND;
D O I：
10.1016/j.mathsocsci.2021.01.004
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The comparative dynamics of the feedback form of the consumption and health-investment demand functions in the health capital model of Grossman (1972) are thoroughly scrutinized for their refutable results. The usual comparative dynamics expressions, to wit, the individual partial derivatives of the demand functions with respect to the parameters and state variables, are not refutable under the basic assumptions of the theory. As a result, sufficient conditions for their falsifiability are identified. In contrast, the heretofore unknown intrinsic comparative dynamics of the demand functions are shown to be characterized by a positive semidefinite matrix of generalized Slutsky-like terms. (c) 2021 Elsevier B.V. All rights reserved.
引用
收藏
页码：23 / 33
页数：11
相关论文
共 50 条
12345