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Subsidization Of Risky Investment Under Income Taxation And Moral Hazard

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  • VIDAR CHRISTIANSEN

Abstract

A simplified version of an analysis by Mayshar (1977) is established in order to expose and explain the key factor behind the case for subsidizing private risky investment. A critical evaluation of the analysis motivates an extension of the model to incorporate moral hazard. It is demonstrated that the main conclusion of the former analysis carries over to the revised model under reasonable assumptions.

Suggested Citation

  • Vidar Christiansen, 1990. "Subsidization Of Risky Investment Under Income Taxation And Moral Hazard," The Warwick Economics Research Paper Series (TWERPS) 357, University of Warwick, Department of Economics.
  • Handle: RePEc:wrk:warwec:357
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    File URL: https://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/1989-1994/twerp357.pdf
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    Cited by:

    1. Hans-Werner Sinn, 1996. "Social insurance, incentives and risk taking," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 3(3), pages 259-280, July.

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    Keywords

    technology diffusion ; survival analysis ; CNC;

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