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Product Number WP 1990-12 December 31, 1989 From the Office of Tax Policy Research WORKING PAPER SERIES Some Nonlinear Tax Effects on Asset Values and Investment Decisions Under Uncertainty = = = = by Jeffrey K. MacKie-Mason University of Michigan and NBER The Office of Tax Policy Research, established in 1987, promotes policyoriented research in taxation, and serves as a liaison between the academic, business, and policy making communities. We are committed to using state-of-the-art methods to analyze tax policy issues, and to disseminate our findings, and those of a broader academic community, to people in the policy making community. LEADING IN THOUGHT AND ACTION