@misc{Schnellenbach, author = {Schnellenbach, Jan}, title = {Tax Morale and the Legitimacy of Economic Policy}, series = {Homo Oeconomicus}, volume = {24}, journal = {Homo Oeconomicus}, number = {1}, issn = {0943-0180}, pages = {21 -- 45}, abstract = {It is proposed that a more accurate prediction of tax evasion activity than in the standard portfolio-choice model can be derived even for risk-neutral individuals if psychological costs are considered. Contrary to earlier models integrating psychological costs they are systematically derived by assuming a relationship between psychological costs, taxpayer satisfaction with public policy and taxes evaded. A formal concept of legitimacy of public policies is introduced and it is shown that legitimacy influences evasion activity.}, language = {en} }