Quarterly Journal of Economics Vol. 92 No. 4 1978
Optimal Redistributive Taxation When Individual Welfare Depends Upon Relative Income
Abstract
I. Introduction, 589. — II. An optimal negative income tax model, 591. — III. The maximin criterion, 594. — IV. A utilitarian social objective, 597. — V. Conclusion, 598. Our theory … depends upon the validity of a single hypothesis, viz.: that the utility index is a function of relative rather than absolute consumption expenditure. — J. Duesenberry Income, Saving and the Theory of Consumer Behavior
- DOI
- 10.2307/1883177
- Volume
- 92
- Issue
- 4
- Pages
- 589
- Sources
- openalex crossref