Uncertainty, optimal taxation and the direct versus indirect tax controversy

Article Abstract:

The impact of uncertainty on the formulation of tax policies in places where commodity taxes and general taxes are available to policymakers was examined. Results revealed that imposing both differential commodity taxes and general income taxes is crucial to creating an optimal tax policy. In addition, results showed that a government should impose lower taxes on pre-committed goods and tax high-income people only on pre-committed goods consumption, not on marginal income.

Research, Tax administration and procedure, Tax administration

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Optimal reservation prices in auctions

Article Abstract:

The risk-neutral independent-private-values (IPV) auction model reveals that the seller should announce a fixed reservation price above the true value regardless of the number of bidders. When the IPV assumption is relaxed and optimal reservation prices characterized in a richer class of auctions, the seller's optimal reservation price oftentimes monotonically and quickly converges to his true value as the number of bidders increases when information is correlated.

Prices and rates, Auctions, Reservation systems

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Spot Market-Risk Market Interaction and the Protective Effects of a Tariff Under Uncertainty

Article Abstract:

The effectiveness of a protective tariff is analyzed through the interaction of commoodity spot prices and security risk prices. The success of a protective tariff depends on the size of the country in relation to market size. The risk effect running through the security markets can either enhance or reduce the direct effect of the tariff operating through the spot markets.

Evaluation, Tariffs

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