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Cover von: Tax Evasion, Tax Rates, and Reference Dependence
Alberto Zanardi, Michele Bernasconi

Tax Evasion, Tax Rates, and Reference Dependence

Rubrik: Articles
Jahrgang 60 (2004) / Heft 3, S. 422-445 (24)
Publiziert 09.07.2018
DOI 10.1628/0015221042396122
Veröffentlicht auf Englisch.
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Beschreibung
Using cumulative prospect theory as a notable example of reference-dependent preference, we revisit the basic portfolio model of tax evasion. We show that some controversial implications of the standard expected-utility theory, including that of a negative relationship between tax rates and evaded income, can be corrected in a direction more consistent with intuition and empirical evidence.