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Chapter 10 Taxation
Kaplow, Louis - In: Handbook of law and economics : volume 1, (pp. 647-755). 2007
This Handbook entry presents a conceptual, normative overview of the subject of taxation. It emphasizes the relationships among the main functions of taxation—notably, raising revenue, redistributing income, and correcting externalities—and the mapping between these functions and various...
Persistent link: https://www.econbiz.de/10014023506
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Optimal Income Taxation
Kaplow, Louis - National Bureau of Economic Research - 2022
This article explores subjects in optimal income taxation characterized by recent research interest, practical importance in light of concerns about inequality, potential for misunderstanding, and prospects for advancement. Throughout, the analysis highlights paths for further investigation....
Persistent link: https://www.econbiz.de/10013334417
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Efficiency based measures of inequality
Andonie, Costel; Kuzmics, Christoph; Rogers, Brian W. - 2014 - Second version, November 5, 2014
How should we make value judgments about wealth inequality? Harsanyi (1953) proposes to take an individual who evaluates her well-being by expected utility and ask her to evaluate the wealth possibilities ex-ante (i.e. before she finds her place in society, i.e., under the "veil of ignorance" of...
Persistent link: https://www.econbiz.de/10010366144
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Discounting, beyond utilitarianism
Fleurbaey, Marc; Zuber, Stéphane - 2015
Discounted utilitarianism and the Ramsey equation prevail in the debate on the discount rate on consumption. The … generations or a pure preference for the present. The authors question the unique status of discounted utilitarianism and discuss … Equivalent (EPEDE) criteria. The class is more flexible than discounted utilitarianism in terms of population ethics and it …
Persistent link: https://www.econbiz.de/10010507755
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INTERGENERATIONAL EQUITY AND THE DISCOUNT RATE FOR POLICY ANALYSIS
Mertens, Jean-Francois; Rubinchik, Anna - Department of Economics, University of Haifa
under two different utilitarian welfare functions: classical and relative. It is only with relative utilitarianism, and …
Persistent link: https://www.econbiz.de/10009294162
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Predation versus cooperation in mutual fund families
Eisele, Alexander; Nefedova, Tamara; Parise, Gianpaolo - 2013
This paper explores the incentives for mutual funds to trade with sibling funds affiliated with the same group. To this end, we construct a dataset of almost one million equity transactions and compare the pricing of trades crossed internally (cross-trades) with that of twin trades executed with...
Persistent link: https://www.econbiz.de/10009750628
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Delegated portfolio management, optimal fee contracts, and asset prices
Sato, Yuki - 2015
This paper proposes a model of asset-market equilibrium with portfolio delegation and optimal fee contracts. Fund managers and investors strategically interact to determine funds' investment profiles, while they share portfolio risk through fee contracts. In equilibrium, their investment...
Persistent link: https://www.econbiz.de/10011293478
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Target Date Funds as Asset Market Stabilizers : Evidence from the Pandemic
Parker, Jonathan A.; Sun, Yang - National Bureau of Economic Research - 2023
Target Date Funds (TDFs) provide retirement investors, many of whom are unsophisticated or inattentive, with age-appropriate exposures to different asset classes like stocks and bonds. To maintain exposures, TDFs trade actively against market returns, buying stock funds when the stock market...
Persistent link: https://www.econbiz.de/10014337872
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Chapter 11 Utilitarianism and the theory of justice
Blackorby, Charles; Bossert, Walter; Donaldson, David - In: Handbook of social choice and welfare : volume 1, (pp. 543-596). 2002
, both in a static and in an intertemporal framework. Section 5 deals with the special case of utilitarianism. We review some … welfarism theorem to a variable-population framework and provide a characterization of critical-level generalized utilitarianism …
Persistent link: https://www.econbiz.de/10014023832
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Ethical theories in business : Thirukkural perspective
Sankar, Jayendira P. - In: International journal of Indian culture and business … 24 (2021) 3, pp. 404-421
Persistent link: https://www.econbiz.de/10012799060