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Expected Utility theory and the tyranny of catastrophic risks

Buchholz, Wolfgang; Schymura, Michael - 2010

eventually has no impact at all when its probability goes to zero which is ethically not acceptable as well. -- Utilitarianism …

Persistent link: https://www.econbiz.de/10008652528

Utilitarianism and Horizontal Equity : The Case for Random Taxation

Stiglitz, Joseph E. - 1981

This paper establishes that, far from being able to derive the principle of horizontal equity from utilitarianism, the … principle is actually in- consistent with utilitarianism in a variety of circumstances. We derive conditions under which (a) it … principle of horizontal equity may be inconsistent not only with utilitarianism but even with Pareto optimality …

Persistent link: https://www.econbiz.de/10012478424

Spreading the Wealth Around : Reflections Inspired by Joe the Plumber

Mankiw, N. Gregory - 2010

This essay discusses the policy debate concerning optimal taxation and the distribution of income. It begins with a brief overview of trends in income inequality, the leading hypothesis to explain these trends, and the distribution of the tax burden. It then considers the framework that...

Persistent link: https://www.econbiz.de/10012462806

A Soul's View of the Optimal Population Problem

De la Croix, David; Doepke, Matthias - National Bureau of Economic Research - 2021

A long-standing challenge for welfare economics is to develop welfare criteria that can be applied to allocations with different population levels. Such a criterion is essential to resolve the optimal population problem, i.e., the tradeoff between population size and the welfare of each person...

Persistent link: https://www.econbiz.de/10012496107

A Fundamental Objection to Tax Equity Norms : A Call for Utilitarianism

Kaplow, Louis - 1994

believe utilitarianism to be insufficiently egalitarian. Second, utilitarianism does not give independent weight to other …

Persistent link: https://www.econbiz.de/10012473938

Evaluation of best price clauses in hotel booking

Hunold, Matthias; Kesler, Reinhold; Laitenberger, Ulrich; … - 2017 - This version: April 23, 2017

We analyze the best price clauses (BPCs) of online travel agents (OTAs) using meta-search price data of nearly 30,000 hotels in different countries. We find that BPCs influence the pricing and availability of hotel rooms across online sales channels. In particular, the abolition of Booking.com's...

Persistent link: https://www.econbiz.de/10011648487

The Rise of Factor Investing : "Passive" Security Design and Market Implications

Cong, Lin William; Huang, Shiyang; Xu, Douglas - National Bureau of Economic Research - 2024

We model financial innovations such as Exchange-Traded Funds, smart beta products, and many index-based vehicles as composite securities (CSs) that facilitate trading the common factors in assets' liquidation values. Through accessing a larger basket of assets in endogenously chosen proportions,...

Persistent link: https://www.econbiz.de/10014468216

Distributed Ledgers and Secure Multi-Party Computation for Financial Reporting and Auditing

Cao, Sean Shun; Cong, Lin William; Yang, Baozhong - National Bureau of Economic Research - 2024

To understand the disruption and implications of distributed ledger technologies for financial reporting and auditing, we analyze firm misreporting, auditor monitoring and competition, and regulatory policy in a unified model. A federated blockchain for financial reporting and auditing can...

Persistent link: https://www.econbiz.de/10015056089

A common corporate tax base for Europe : an impact assessment of the draft council directive on a CC(C)TB

Spengel, Christoph; Ortmann-Babel, Martina; Zinn, Benedikt - 2012

After intensive and extensive preparation, the European Commission released the long-awaited proposal for a Council Directive on a Common Consolidated Corporate Tax Base (CCCTB) on March 16, 2011. In the context of the Europe 2020 Strategy, major objectives of the proposed CCCTB are the...

Persistent link: https://www.econbiz.de/10009553619

Transparency in financial reporting : is country-by-country reporting suitable to combat international profit shifting?

Evers, Maria Theresia; Meier, Ina; Spengel, Christoph - 2014

Aggressive tax planning efforts of highly profitable multinational companies (Base Erosion and Profit Shifting (BEPS)) have recently become the subject of intense public debate. As a response, several international initiatives and parties have called for more transparency in financial reporting,...

Persistent link: https://www.econbiz.de/10010249636