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Circumstantial risk : impact of future tax evasion and labor supply opportunities on risk exposure
Doerrenberg, Philipp; Duncan, Denvil; Zeppenfeld, … - 2014
This paper examines whether risk-taking in a lottery depends on the opportunity to respond to the lottery outcome through additional labor effort and/or tax evasion. Previous empirical attempts to answer this question face identification issues due to self-selection into jobs that facilitate tax...
Persistent link: https://www.econbiz.de/10010238206
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Does an uncertain tax system encourage "aggressive tax planning"?
Alm, James - In: Economic analysis and policy : EAP ; journal of the … 44 (2014) 1, pp. 30-38
Persistent link: https://www.econbiz.de/10011481787
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Tax-Loss Harvesting Under Uncertainty
McKeever, Daniel; Rydqvist, Kristian - 2021
Numerical calculations imply that tax-loss harvesting is valuable to holders of taxable stock accounts. These calculations are based on the assumption that a capital loss on a stock portfolio can always be netted against ordinary income (up to a limit) or a capital gain on the same stock...
Persistent link: https://www.econbiz.de/10013239691
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Uncertainty in the Theory of Public Finance
Sandmo, Agnar - 2010
This paper discusses the role that the economics of uncertainty has played in the theory of public finance. From being … mostly concerned with its choice-theoretic foundations in the 1950s and ‘60s, the theory of expected utility maximization and … risk averse behaviour has contributed decisively to the development of several areas of the theory of public finance. Three …
Persistent link: https://www.econbiz.de/10014197821
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Resolving Information Asymmetry through Contractual Risk Sharing : The Case of Private Firm Acquisitions
Jansen, Mark - 2020
When private firms are acquired, buyers commonly rely on seller financing and earnouts. Using a novel database of private acquisitions, I find that seller financing and earnouts become more common as information asymmetry increases between the acquirer and the target. Financial statement audits...
Persistent link: https://www.econbiz.de/10012856045
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Resolving Information Asymmetry Through Contractual Risk Sharing : The Case of Private Firm Acquisitions
Jansen, Mark - 2021
When private firms are acquired, buyers commonly rely on seller financing and earnouts. Using a novel database of private acquisitions, I find that seller financing and earnouts become more common as information asymmetry increases between the acquirer and the target. Financial statement audits...
Persistent link: https://www.econbiz.de/10013241013
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Optimal income taxation with uncertain earnings : a synthesis
Boadway, Robin W.; Sato, Motohiro - 2011
We study optimal nonlinear income taxation when earnings can differ because of both ability and luck, so the income tax has both a redistributive role and an insurance role. A substantial literature on optimal redistribution in the absence of uncertainty has evolved since Mirrlees' original...
Persistent link: https://www.econbiz.de/10009383580
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Optimal Income Taxation with Uncertain Earnings : A Synthesis
Boadway, Robin - 2011
We study optimal nonlinear income taxation when earnings can differ because of both ability and luck, so the income tax has both a redistributive role and an insurance role. A substantial literature on optimal redistribution in the absence of uncertainty has evolved since Mirrlees' original...
Persistent link: https://www.econbiz.de/10013117794
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Income Taxation, Wealth Effects, and Uncertainty : Portfolio Adjustments with Isoelastic Utility and Discrete Probability (V.2)
Sims, Theodore S. - 2014
The expected utility formulation of the problem of a risk-averse agent's allocating a portfolio between a safe and a risky asset is widely taken as standing for the proposition that if α* ε (0, 1) is the optimal allocation to the risky asset in the absence of tax, α*/(1-t) is the optimal...
Persistent link: https://www.econbiz.de/10013049484
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Income Taxation, Wealth Effects, and Uncertainty : Portfolio Adjustments with Isoelastic Utility and Discrete Probability
Sims, Theodore S. - 2014
The expected utility formulation of the problem of a risk-averse agent's allocating a portfolio between a safe and a risky asset is widely taken as standing for the proposition that if α* ε (0, 1) is the optimal allocation to the risky asset in the absence of tax, α*/(1-t) is the optimal...
Persistent link: https://www.econbiz.de/10013054124