CORPORATION TAX ASYMMETRIES: AN OLIGOPOLISTIC SUPERGAME ANALYSIS

摘要: Corporation tax systems around the world treat gains and losses asymmetrically. This paper examines impact of changing refundability in a cash flow system. A dynamic game complete information is used to analyse refund policies an imperfectly competitive setting. In this supergame, firms produce homogeneous good sustain tacit collusion by using credible severe punishments deviations. The analysis most collusive equilibrium with indicates that policy which increases has following impacts: it reduces industry output, market price, therefore enhances collusion. also social welfare even though refunds are never given equilibrium.