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IEB14-03_Piolatto.pdf (605.88 KB)

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Document de treball

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2014

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cc-by-nc-nd, (c) Piolatto et al., 2014
Si us plau utilitzeu sempre aquest identificador per citar o enllaçar aquest document: https://hdl.handle.net/2445/115510

Prospect theory and tax evasion: A reconsideration of the Yitzhaki puzzle [WP]

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Resum

The standard expected utility model of tax evasion predicts that evasion is decreasing in the marginal tax rate (the Yitzhaki puzzle). The existing literature disagrees on whether prospect theory overturns the puzzle. We disentangle four distinct elements of prospect theory and find loss aversion and probability weighting to be redundant in respect of the puzzle. Prospect theory fails to reverse the puzzle for various classes of endogenous specification of the reference level. These classes include, as special cases, the most common specifications in the literature. New specifications of the reference level are needed, we conclude.

Matèries

Frau fiscal, Ingressos fiscals, Poder adquisitiu, Auditoria fiscal

Matèries (anglès)

Tax evasion, Internal revenue, Purchasing power, Tax auditing

Citació

Col·leccions

IEB (Institut d’Economia de Barcelona) – Working Papers

Citació

PIOLATTO, Amedeo, RABLEN, Matthew d.. Prospect theory and tax evasion: A reconsideration of the Yitzhaki puzzle [WP]. _IEB Working Paper 2014/03_. [consulta: 23 de gener de 2026]. [Disponible a: https://hdl.handle.net/2445/115510]

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