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State-variable public goods when relative consumption matters: a dynamic optimal taxation approach
Umeå University, Faculty of Social Sciences, Department of Economics.
2011 (English)Report (Other academic)
Abstract [en]

This paper concerns the optimal provision of a state-variable public good, where the global climate is the prime example. The analysis is based on a two-type optimal income tax model with overlapping generations, where people care about their relative consumption. We consider both keeping-up-with-the-Joneses preferences (where people compare their own current consumption with others’ current consumption) and catching-up-with-the-Joneses preferences (where people compare their own current consumption with others’ past consumption). The extent to which the rule for public provision ought to be modified is shown to depend crucially on the preference elicitation format.

Place, publisher, year, edition, pages
2011. , 44 p.
Series
Umeå economic studies, ISSN 0348-1018 ; 828
Keyword [en]
State variable public goods, asymmetric information, relative consumption, status, positional preferences, climate policy
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:umu:diva-47545OAI: oai:DiVA.org:umu-47545DiVA: diva2:442905
Available from: 2011-09-22 Created: 2011-09-22 Last updated: 2011-11-11Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
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Output format
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