Fochmann, Martin
Income taxes and risky investment decisions an experiment on behavioral tax biases / by Martin Fochmann and Kristina Hemmerich .-- , 2018
Disponible también en formato electrónico a través de la Biblioteca del IEF.
Resumen.
Bibliografía.
We design a controlled experiment to examine investment behavior when a proportional income tax (with and without full loss offset) is introduced. Our design enables us to disentangle tax effects predicted by standard neoclassical theory and behavioral tax biases that cannot be predicted by this theory. We observe that investment behavior can be heavily distorted by behavioral tax biases and is consequently inconsistent with theoretical predictions. However, if we isolate these effects, we find support for the theory. We argue that the unpredicted behavior is a result of a tax-induced cognitive load variation.
IMPUESTOS
POLITICA FISCAL
INVERSIONES
RIESGO
TOMA DE DECISIONES
Hemmerich, Kristina
Journal of Institutional and Theoretical Economics: JITE 0932-4569 v. 174, n. 4, December 2018, p. 651-688
Income taxes and risky investment decisions an experiment on behavioral tax biases / by Martin Fochmann and Kristina Hemmerich .-- , 2018
Disponible también en formato electrónico a través de la Biblioteca del IEF.
Resumen.
Bibliografía.
We design a controlled experiment to examine investment behavior when a proportional income tax (with and without full loss offset) is introduced. Our design enables us to disentangle tax effects predicted by standard neoclassical theory and behavioral tax biases that cannot be predicted by this theory. We observe that investment behavior can be heavily distorted by behavioral tax biases and is consequently inconsistent with theoretical predictions. However, if we isolate these effects, we find support for the theory. We argue that the unpredicted behavior is a result of a tax-induced cognitive load variation.
IMPUESTOS
POLITICA FISCAL
INVERSIONES
RIESGO
TOMA DE DECISIONES
Hemmerich, Kristina
Journal of Institutional and Theoretical Economics: JITE 0932-4569 v. 174, n. 4, December 2018, p. 651-688