Author： Poutvaara Panu
Publisher： Mohr Siebeck
ISSN： 0015-2218
Source： FinanzArchiv: Public Finance Analysis, Vol.59, Iss.2, 2003-06, pp. : 177-188
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Abstract
This paper compares private investment in risky education in a laissezfaire economy and with income redistribution. Obtaining higher education requires time and may require paying nondeductible resource costs. The paper shows that redistributive taxation may actually increase private investment in risky education also without precommitment.
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