in income taxation. We first compare investment behavior in the no tax baseline to a tax control setting, in which the … we compare the baseline investment choices to choices under three different types of income taxation. We observe that …

Income taxation may not only affect investment behavior by distorting payoffs, it may also have a more subtle … vary the taxation method, while keeping the financial outcomes constant, we find clear evidence that aggregated income … taxation (comparable to profit taxation) with complete loss deduction induces a sustained bias towards more risk-taking, while …