This article analyzes how a property tax a¤ects a lease-sale strategy of a durable-good monopolist, and discusses its implication on social welfare with a two-period model. Our model derives some interesting results: (i) Concurrent leasing and selling can be the unique solution. (ii) The...

This article analyzes how a property tax affects a lease-sale strategy of a durable-goods monopolist, and discusses its implications on social welfare. This paper presents some interesting results: (i) Contrary to the traditional view, social welfare can be enhanced by a tax when the time...