Econometrica Vol. 45 No. 5 1977
Power and Taxes
Abstract
[A treatment of taxation based on considerations of political and economic power in a majority-vote democratic context is the topic of this article. Agents are endowed with gross incomes and have concave von Neumann-Morgenstern utilities for money. Taxation policies are decided by majority vote, but each citizen retains a certain basic right that prevents the majority from arbitrarily expropriating his income. The resulting non-transferable utility cooperative game is analyzed by means of the Harsanyi-Shapley-Nash value.]
- DOI
- 10.2307/1914063
- Volume
- 45
- Issue
- 5
- Pages
- 1137
- Sources
- bibtex:phds-export.bib crossref openalex