Tax Evasion and Portfolio Decisions
DOI:
https://doi.org/10.1016/1057-0810(91)90052-ZAbstract
This paper extends the literature on tax evasion under uncertainty by consider- ing not only the uncertain prospect of an audit, but also a risky capital asset. Tax evasion is considered as a risky investment and the decision about it is part of a portfolio decision of the individual. The individual decides about an investment in a riskless financial asset, a risky financial asset, as well as tax evasion. The effect of risk, risk aversion, the income tax rate, and “enforcement” parameters are consid- ered. PublicFinance, Vol. 45, No. 3 (1990), pp. 409-422. (Reprinted with permis- sion of Public Finance.)
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