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<section name="raw"> <SEQUENTIAL> <record key="001" att1="001" value="184968" att2="184968">001 184968</record> <field key="037" subkey="x">englisch</field> <field key="050" subkey="x">Forschungsbericht</field> <field key="076" subkey="">Ökonomie</field> <field key="079" subkey="y">http://www.ihs.ac.at/publications/eco/es-283.pdf</field> <field key="079" subkey="z">Hlouskova, Jaroslava - et al., Capital Income Taxation and Risk Taking under Prospect Theory (pdf)</field> <field key="079" subkey="y">http://ideas.repec.org/p/ihs/ihsesp/283.html</field> <field key="079" subkey="z">Institute for Advanced Studies. Economics Series; 283 (RePEc)</field> <field key="100" subkey="">Hlouskova, Jaroslava</field> <field key="103" subkey="">Department of Economics and Finance, Institute for Advanced Studies, Vienna, Austria and Department of Economics, Thompson Rivers</field> <field key="Uni" subkey="v">ersity, Kamloops, Canada</field> <field key="104" subkey="a">Tsigaris, Panagiotis</field> <field key="107" subkey="">Department of Economics, Thompson Rivers University, Kamloops, Canada</field> <field key="331" subkey="">Capital Income Taxation and Risk Taking under Prospect Theory</field> <field key="403" subkey="">1. Ed.</field> <field key="410" subkey="">Wien</field> <field key="412" subkey="">Institut für Höhere Studien</field> <field key="425" subkey="">2012, February</field> <field key="433" subkey="">21 pp.</field> <field key="451" subkey="">Institut für Höhere Studien; Reihe Ökonomie; 283</field> <field key="451" subkey="h">Kunst, Robert M. (Ed.) ; Fisher, Walter (Assoc. Ed.) ; Ritzberger, Klaus (Assoc. Ed.)</field> <field key="461" subkey="">Economics Series</field> <field key="517" subkey="c">from the Table of Contents: Introduction; The model; Capital income taxation with a comfort zone; Capital income taxation with a</field> <field key="dis" subkey="c">omfort zone; Concluding remarks and future directions; References; Appendix 1-3;</field> <field key="542" subkey="">1605-7996</field> <field key="544" subkey="">IHSES 283</field> <field key="700" subkey="">G11</field> <field key="700" subkey="">H2</field> <field key="720" subkey="">Risk taking</field> <field key="720" subkey="">Portfolio choice</field> <field key="720" subkey="">Prospect theory</field> <field key="720" subkey="">Loss aversion</field> <field key="720" subkey="">Reference level</field> <field key="720" subkey="">Taxation</field> <field key="753" subkey="">Abstract: This research examines capital income taxation for a loss averse investor under some acceptable in the literature</field> <field key="ref" subkey="e">rence levels relative to which are the changes in the level of wealth valued. Depending on the reference level, some results</field> <field key="ind" subkey="i">cate that it could be possible for a capital income tax increase not to stimulate risk taking even if the tax code provides</field> <field key="the" subkey="">attractive full loss offset provisions. However, risk taking can be stimulated if the investor interprets part of the tax as</field> <field key="a l" subkey="o">ss instead as a reduced gain. Then investor becomes risk seeking and moves away from the discomfort zone of relative losses.</field> <field key="Thi" subkey="s">later response to taxation causes private risk taking to increase which is contrary to what evolves from assuming an</field> <field key="exp" subkey="e">cted utility model. Finally, a number of other reference standards are examined as well.;</field> </SEQUENTIAL> </section> Servertime: 0.469 sec | Clienttime:
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