This study examines the effect of tax complexity on the market value of publicly traded firms. Using firm-level measures of tax complexity, we find that a one standard deviation increase in tax complexity-comparable in magnitude to the rise following the U.S. Tax Cuts and Jobs Act-is associated...

Several behavioral models assume that choice over multi-attribute goods is systematically affected by the ranges of attribute values. Two recurring principles in this literature are contrast, whereby attributes with larger ranges attract attention and are therefore overweighted, and...