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Concavity of utility, concavity of welfare, and redistribution of income

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  • Louis Kaplow

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  • Louis Kaplow, 2010. "Concavity of utility, concavity of welfare, and redistribution of income," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 17(1), pages 25-42, February.
    • Handle: RePEc:kap:itaxpf:v:17:y:2010:i:1:p:25-42
    DOI: 10.1007/s10797-008-9097-5
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    References listed on IDEAS

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    1. Choi, E. Kwan & Menezes, Carmen F., 1992. "Is relative risk aversion greater than one?," International Review of Economics & Finance, Elsevier, vol. 1(1), pages 43-54.
    2. Louis Kaplow, 2005. "The Value of a Statistical Life and the Coefficient of Relative Risk Aversion," Journal of Risk and Uncertainty, Springer, vol. 31(1), pages 23-34, July.
    3. Slemrod, Joel & Yitzhaki, Shlomo & Mayshar, Joram & Lundholm, Michael, 1994. "The optimal two-bracket linear income tax," Journal of Public Economics, Elsevier, vol. 53(2), pages 269-290, February.
    4. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
    5. Campbell, John Y, 1996. "Understanding Risk and Return," Journal of Political Economy, University of Chicago Press, vol. 104(2), pages 298-345, April.
    6. John C. Harsanyi, 1955. "Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility," Journal of Political Economy, University of Chicago Press, vol. 63(4), pages 309-309.
    7. Stern, N. H., 1976. "On the specification of models of optimum income taxation," Journal of Public Economics, Elsevier, vol. 6(1-2), pages 123-162.
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    Citations

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    Cited by:

    1. Maciej Dudek & Paweł Dudek & Konrad Walczyk, 2023. "Optimal Labour Income Taxation in Poland: The Case of High-Income Earners," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 1, pages 41-65.
    2. Rintaro Yamaguchi, 2019. "Intergenerational Discounting with Intragenerational Inequality in Consumption and the Environment," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(4), pages 957-972, August.
    3. Sean Slack & David Ulph, 2014. "Optimal Universal and Categorical Benefits with Classification Errors and Imperfect Enforcement," Discussion Paper Series, School of Economics and Finance 201411, School of Economics and Finance, University of St Andrews.
    4. Robin Boadway, 2011. "Viewpoint: Innovations in the theory and practice of redistribution policy," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 44(4), pages 1138-1183, November.
    5. Carlos Esteban Posada, 2022. "Redistribution Policy and Social Welfare: A View from Macroeconomics," Documentos de Trabajo de Valor Público 20197, Universidad EAFIT.
    6. Boadway, Robin & Song, Zhen, 2016. "Indirect taxes for redistribution: Should necessity goods be favored?," Research in Economics, Elsevier, vol. 70(1), pages 64-88.
    7. Louis Kaplow & David Weisbach, 2011. "Discount rates, social judgments, individuals’ risk preferences, and uncertainty," Journal of Risk and Uncertainty, Springer, vol. 42(2), pages 125-143, April.
    8. Oded Stark & Fryderyk Falniowski & Marcin Jakubek, 2017. "Consensus Income Distribution," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 63(4), pages 899-911, December.
    9. Slack, Sean & Ulph, David, 2014. "Optimal Universal and Categorical Benefits with Classification Errors and Imperfect Enforcement," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 2015-13, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Ulrich Eydam & Francesca Diluiso, 2022. "How to Redistribute the Revenues from Climate Policy? A Dynamic Perspective with Financially Constrained Households," CEPA Discussion Papers 45, Center for Economic Policy Analysis.
    11. Dietrich, Stephan & Malerba, Daniele & Barrientos, Armando & Gassmann, Franziska, 2017. "Rates of return to antipoverty transfers in Uganda," MERIT Working Papers 2017-040, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    12. Acland, Daniel & Greenberg, David H., 2023. "The Elasticity of Marginal Utility of Income for Distributional Weighting and Social Discounting: A Meta-Analysis," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 14(2), pages 386-405, July.
    13. Hänsel, Martin C. & Franks, Max & Kalkuhl, Matthias & Edenhofer, Ottmar, 2022. "Optimal carbon taxation and horizontal equity: A welfare-theoretic approach with application to German household data," Journal of Environmental Economics and Management, Elsevier, vol. 116(C).
    14. Marc Dubois & Stephane Mussard, 2015. "On Income and Utility Generalised Transfer Principles in a Welfarist-Paretian Separable Framework," Cahiers de recherche 15-09, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    15. Yamaguchi, Rintaro, 2012. "Discounting, Distribution and Disaggregation," MPRA Paper 46322, University Library of Munich, Germany.
    16. Francisco Cabezon, 2022. "The Optimal Size and Progressivity of Old-Age Social Security," Papers 2211.03912, arXiv.org.
    17. Mæstad, Ottar & Norheim, Ole Frithjof, 2012. "A universal preference for equality in health? Reasons to reconsider properties of applied social welfare functions," Social Science & Medicine, Elsevier, vol. 75(10), pages 1836-1843.
    18. Matthew Adler & Nicolas Treich, 2015. "Prioritarianism and Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 62(2), pages 279-308, October.
    19. Nurmi, Väinö & Ahtiainen, Heini, 2018. "Distributional Weights in Environmental Valuation and Cost-benefit Analysis: Theory and Practice," Ecological Economics, Elsevier, vol. 150(C), pages 217-228.
    20. Dubois, Marc & Mussard, Stéphane, 2019. "Utility and income transfer principles: Interplay and incompatibility," Mathematical Social Sciences, Elsevier, vol. 100(C), pages 46-56.
    21. Slack, Sean & Ulph, David, 2014. "Optimal Universal and Categorical Benefits with Classification Errors and Imperfect Enforcement," SIRE Discussion Papers 2015-13, Scottish Institute for Research in Economics (SIRE).
    22. Armando Barrientos & Stephan Dietrich & Franziska Gassmann & Daniele Malerba, 2022. "Prioritarian rates of return to antipoverty transfers," Journal of International Development, John Wiley & Sons, Ltd., vol. 34(3), pages 550-563, April.

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    More about this item

    Keywords

    Concavity; Redistribution; Social welfare function; Optimal income taxation; Inequality; D31; D63; H21; H23;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies

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