Tax neutrality under irreversibility and risk aversion

@inproceedings{Niemanna2004TaxNU,
  title={Tax neutrality under irreversibility and risk aversion},
  author={Rainer Niemanna and Caren Surethb and rainer. niemann},
  year={2004}
}
Neutral tax systems that do not affect investment decisions are often considered desirable from a tax policy perspective. This paper uses the real option paradigm to derive neutral tax systems for the first time under risk aversion and irreversibility. D 2004 Elsevier B.V. All rights reserved. 
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