Moral Hazard, Income Taxation and Prospect Theory
Moral Hazard, Income Taxation and Prospect Theory
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道德风险、所得税和前景理论
DOI：
10.1111/j.1467-9442.2008.00541.x
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发表时间：
2008
期刊：
影响因子：
--
通讯作者：
Matti Tuomala
中科院分区：
文献类型：
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作者：
R. Kanbur;Jukka Pirttila;Matti Tuomala
不确定性下最优所得税的标准理论是在个人最大化预期效用的假设下发展起来的。然而，前景理论现在已经被确立为一种个人行为的替代模型，并得到了经验的支持。本文探讨了在不确定性条件下，当个人行为符合前景理论的原则时，最优所得税理论。可以看出，许多标准结果以有趣的方式进行了修改。解决优化问题的一阶方法在损失域上是无效的，边际税率表在参考消费水平附近提供了充分的保险。收入不确定性下的非福利主义目标的影响进行了研究。
The standard theory of optimal income taxation under uncertainty has been developed under the assumption that individuals maximise expected utility. However, prospect theory has now been established as an alternative model of individual behaviour, with empirical support. This paper explores the theory of optimal income taxation under uncertainty when individuals behave according to the tenets of prospect theory. It is seen that many of the standard results are modified in interesting ways. The first-order approach for solving the optimisation problem is not valid over the domain of losses, and the marginal tax schedule offers full insurance around the reference consumption level. The implications of non-welfarist objectives under income uncertainty are also examined.