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The no-loss offset provision and the attitude towards risk of a risk-neutral firm

  • Eeckhoudt, Louis
  • Gollier, Christian
  • Schlesinger, Harris

In this paper, we show how a differentiated tax treatment of corporate losses and corporate profits induces the firm to behave in a very specific risk-averse manner.

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File URL: http://www.sciencedirect.com/science/article/B6V76-3SX1M4S-H/2/b74c282da790325a64b22ff6d878b2d0
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Article provided by Elsevier in its journal Journal of Public Economics.

Volume (Year): 65 (1997)
Issue (Month): 2 (August)
Pages: 207-217

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Handle: RePEc:eee:pubeco:v:65:y:1997:i:2:p:207-217
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505578

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  1. Gollier Christian, 1995. "The Comparative Statics of Changes in Risk Revisited," Journal of Economic Theory, Elsevier, vol. 66(2), pages 522-535, August.
  2. Baron, David P, 1970. "Price Uncertainty, Utility, and Industry Equilibrium in Pure Competition," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 11(3), pages 463-80, October.
  3. Sandmo, Agnar, 1971. "On the Theory of the Competitive Firm under Price Uncertainty," American Economic Review, American Economic Association, vol. 61(1), pages 65-73, March.
  4. Segal, Uzi & Spivak, Avia, 1990. "First order versus second order risk aversion," Journal of Economic Theory, Elsevier, vol. 51(1), pages 111-125, June.
  5. Leland, Hayne E, 1972. "Theory of the Firm Facing Uncertain Demand," American Economic Review, American Economic Association, vol. 62(3), pages 278-91, June.
  6. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
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