【Theory webinar】Taxation of High-powered Entrepreneurship
2021/04/27
研討會日期 : 2021-04-27
時間 : 09:00
主講人 : Professor Eduardo Azevedo
地點 : Conference Room C103
演講者簡介 : Professor Azevedo received his Ph.D. in Economic from Harvard University in 2012. He is currently the James G. Campbell Jr. Memorial Associate Professor at the University of Pennsylvania. His research field is applied microeconomic theory.
演講摘要 : High-powered entrepreneurship is thought to be responsible for a significant amount of innovation. For example, over half of the IPOs in the United States are venture capital backed companies. This project considers taxation in a career choice model of entrepreneurship with high probability of failure and skewed payoffs from success. This is work in progress so I will focus on two preliminary theoretical results. First, the average earnings by a marginal entrepreneur are much higher than their earnings as workers, due to risk aversion. Second, the elasticity of the share of entrepreneurs with respect to top tax rates tend to be low. We will also discuss optimal taxation and an empirical application to American venture-capital funded entrepreneurs.
