Arbeitspapier

The Equal-Sacrifice Social Welfare Function with an Application to Optimal Income Taxation

We propose and axiomatically characterize a family of welfare criteria that prioritize individuals making larger sacrifices. By combining efficiency with a concern for equality of sacrifice, our criteria avoid serious shortcomings of utilitarianism. We illustrate our results within the Mirrleesian optimal taxation framework. Our simulated equal-sacrifice optimal tax schedule for the US has marginal tax rates in line with the US tax system and about 20 percentage points lower than the utilitarian recommendation.

Language: Englisch

Bibliographic citation: Series: CESifo Working Paper ; No. 8505

Classification: Wirtschaft
Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Taxation and Subsidies: Efficiency; Optimal Taxation
General Welfare; Well-Being

Subject: equal-sacrifice principle
optimal income taxation
welfare criterion

Event: Geistige Schöpfung

(who): Berg, Kristoffer
Piacquadio, Paolo Giovanni

Event: Veröffentlichung

(who): Center for Economic Studies and Ifo Institute (CESifo)

(where): Munich

(when): 2020

Handle: http://hdl.handle.net/10419/223577

Last update: 10.03.2025, 11:43 AM CET

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Object type

Arbeitspapier

Associated

Berg, Kristoffer
Piacquadio, Paolo Giovanni
Center for Economic Studies and Ifo Institute (CESifo)

Time of origin

2020

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The Equal-Sacrifice Social Welfare Function with an Application to Optimal Income Taxation

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Other Objects (12)

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Monopsony power, income taxation and welfare

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