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Randomization in optimal in...
The optimal income tax problem, since it requires self-selection constraints which define nonconvex feasible sets, is one of the many problems in economics for which randomization in the solution may be desirable. For a two-class economy, we characterize the optimal random tax schedules and we present necessary and sufficient conditions for the desirability of local randomization. The standard single-crossing restriction on preferences is not required for these results. We also show that randomization can be beneficial without violating (ex post as well as ex ante) horizontal equity. Lastly, we give an example to demonstrate that the gains from randomization may be large
Monografía
monografia Rebiun36745536 https://catalogo.rebiun.org/rebiun/record/Rebiun36745536 m o d cr bn||||||abp cr bn||||||ada 141108s1990 maua ob 000 0 eng d 326893772 UAO ocn894809185 OCLCE eng pn OCLCE OCLCO CUSER NTE OCLCF OCLCQ SXT OCLCQ OCLCO OCLCQ QGK OCLCL OCLCQ dlr X700 X100 330 OCoLC E jelc Randomization in optimal income tax schedules Dagobert L. Brito [and others] Cambridge, MA National Bureau of Economic Research [1990] Cambridge, MA Cambridge, MA National Bureau of Economic Research 1 online resource (27, A1-A16, [6] pages) illustrations 1 online resource (27, A1-A16, [6] pages) Text txt rdacontent computer c rdamedia online resource cr rdacarrier NBER working paper series ; working paper no. 3289 "March 1990." Includes bibliographical references (page 27) Use copy. Restrictions unspecified star. MiAaHDL The optimal income tax problem, since it requires self-selection constraints which define nonconvex feasible sets, is one of the many problems in economics for which randomization in the solution may be desirable. For a two-class economy, we characterize the optimal random tax schedules and we present necessary and sufficient conditions for the desirability of local randomization. The standard single-crossing restriction on preferences is not required for these results. We also show that randomization can be beneficial without violating (ex post as well as ex ante) horizontal equity. Lastly, we give an example to demonstrate that the gains from randomization may be large Electronic reproduction. [Place of publication not identified] HathiTrust Digital Library 2014. MiAaHDL Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL digitized 2014 HathiTrust Digital Library committed to preserve pda MiAaHDL Income tax- Mathematical models Utility theory- Mathematical models Stochastic processes Stochastic Processes Impôt sur le revenu- Modèles mathématiques Processus stochastiques Income tax- Mathematical models Stochastic processes Utility theory- Mathematical models Macroeconomics and Monetary Economics Brito, Dagobert L. National Bureau of Economic Research Print version Randomization in optimal income tax schedules. Cambridge, MA : National Bureau of Economic Research, [1990] (OCoLC)21436781 Working paper series (National Bureau of Economic Research) working paper no. 3289