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dc.contributor.authorAronsson, Thomasen
dc.contributor.authorSchöb, Ronnieen
dc.date.accessioned2012-07-11-
dc.date.accessioned2012-07-20T09:49:49Z-
dc.date.available2012-07-20T09:49:49Z-
dc.date.issued2012-
dc.identifier.urihttp://hdl.handle.net/10419/59885-
dc.description.abstractAdaptation is omnipresent but people systematically fail to correctly anticipate the degree to which they adapt. This leads individuals to make inefficient intertemporal decisions. This paper concerns optimal income taxation to correct for such anticipation-biases in a framework where consumers adapt to earlier consumption levels through a habit-formation process. The analysis is based on a general equilibrium OLG model with endogenous labor supply and savings where each consumer lives for three periods. Our results show how a paternalistic government may correct for the effects of anticipation-bias through a combination of time-variant marginal labor income taxes and savings subsidies. Furthermore, the optimal policy mix remains the same, irrespective of whether consumers commit to their original life-time plan for work hours and savings decided upon in the first period of life or re-optimize later on when realizing the failure to adapt.en
dc.language.isoengen
dc.publisher|aFreie Universität Berlin, Fachbereich Wirtschaftswissenschaft |cBerlinen
dc.relation.ispartofseries|aDiskussionsbeiträge |x2012/13en
dc.subject.jelD03en
dc.subject.jelD61en
dc.subject.jelD91en
dc.subject.jelH21en
dc.subject.ddc330en
dc.subject.keywordoptimal taxationen
dc.subject.keywordadaptationen
dc.subject.keywordhabit-formationen
dc.subject.keywordanticipation-biasen
dc.subject.keywordpaternalismen
dc.titleAdaptation, Anticipation-bias and optimal income taxation-
dc.typeWorking Paperen
dc.identifier.ppn719254590en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:fubsbe:201213en

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