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      <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>
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