Bryan Caplan quotes a passage from Daniel Kahneman's Thinking, Fast in addition to Slow (which I cause got non read, but conception to):
He is absolutely right. Most of the literature on optimal taxation in addition to redistribution, next Mirrlees, assumes homogeneous preferences. But Matthew Weinzierl has a recent newspaper on preference heterogeneity, which shows " to the extent that variation inward income is due to preference differences rather than productivity differences, the optimal extent of redistribution is lower, in addition to the fail of preference heterogeneity biases the results of conventional optimal revenue enhancement analyses inward favor of redistribution of income."
By the way, the championship of this post is taken from the Weinzierl paper. Sumber https://gregmankiw.blogspot.com/
A large-scale written report of the comport upon of higher education... revealed strike show of the lifelong effects of the goals that immature people ready for themselves. The relevant information were drawn from questionnaires collected inward 1995-1997 from simply about 12,000 people who had started their higher pedagogy inward elite schools inward 1976. When they were 17 or 18, the participants had filled out a questionnaire inward which they rated the finish of "being really well-off financially" on a 4-point scale ranging from "not important" to "essential."...
Goals brand a large difference. Nineteen years later they stated their fiscal aspirations, many of the people who wanted a high income had achieved it. Among the 597 physicians in addition to other medical professionals inward the sample, for example, each additional signal on the money-importance scale was associated amongst an growth of over $14,000 of project income inward 1995 dollars!In other words, i argue that people differ inward their incomes is that some people help to a greater extent than nigh having a high income than others. To seat it inward geekspeak, preferences over pecuniary goods (say, consumption) in addition to nonpecuniary goods (say, leisure) are heterogeneous. Bryan goes on to advise that to the extent this is true, it weakens the instance for income redistribution.
He is absolutely right. Most of the literature on optimal taxation in addition to redistribution, next Mirrlees, assumes homogeneous preferences. But Matthew Weinzierl has a recent newspaper on preference heterogeneity, which shows " to the extent that variation inward income is due to preference differences rather than productivity differences, the optimal extent of redistribution is lower, in addition to the fail of preference heterogeneity biases the results of conventional optimal revenue enhancement analyses inward favor of redistribution of income."
By the way, the championship of this post is taken from the Weinzierl paper. Sumber https://gregmankiw.blogspot.com/
