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Proportional Profit Taxes and Resource Management under Production Uncertainty

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  • Giannis Karagiannis

    ()
    (Department of Economics, University of Macedonia, Greece)

Abstract

The impact of proportional profit taxes on input use is analyzed under conditions of production uncertainty and risk aversion. Two kinds of profit taxes are considered: proportional profit taxes with perfect loss offset and revenue-neutral profits taxes. Their impact on optimal input use is examined under various forms of production uncertainty, such as the Just-Pope model and the cases of multiplicative and additive uncertainty. It is shown that the structure of risk attitudes, the form of production uncertainty, the underlying (stochastic) technical interdependencies, and the risk-input relations are crucial features in determining the impact of proportional profit taxes on optimal input use.

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Paper provided by University of Crete, Department of Economics in its series Working Papers with number 9819.

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Handle: RePEc:crt:wpaper:9819

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  1. Bar-Shira, Z. & Just, R. E. & Zilberman, D., 1997. "Estimation of farmers' risk attitude: an econometric approach," Agricultural Economics, Blackwell, vol. 17(2-3), pages 211-222, December.
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  6. Gotsch, Nikolaus & Regev, Uri, 1996. "Fungicide use under risk in Swiss wheat production," Agricultural Economics, Blackwell, vol. 14(1), pages 1-9, April.
  7. Giannis Karagiannis, 1998. "Interactions between Agricultural and Resource Policy: Comment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(2), pages 419-421.
  8. J. Pannell, David, 1991. "Pests and pesticides, risk and risk aversion," Agricultural Economics, Blackwell, vol. 5(4), pages 361-383, August.
  9. Loehman, Edna T. & Nelson, Carl H., 1992. "Optimal Risk Management, Risk Aversion, And Production Function Properties," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 17(02), December.
  10. Uri Regev & Nikolaus Gotsch & Peter Rieder, 1997. "Are Fungicides, Nitrogen And Plant Growth Regulators Risk-Reducing? Empirical Evidence From Swiss Wheat Production," Journal of Agricultural Economics, Wiley Blackwell, vol. 48(1-3), pages 167-178.
  11. Jeffrey T. LaFrance & Myles J. Watts, 1995. "Public Grazing in the West and "Rangeland Reform '94"," Development Research Unit Working Paper Series archive-46, Monash University, Department of Economics.
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Cited by:
  1. Drichoutis, Andreas C. & Koundouri, Phoebe, 2012. "Estimating risk attitudes in conventional and artefactual lab experiments: The importance of the underlying assumptions," Economics Discussion Papers 2012-19, Kiel Institute for the World Economy.

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