The Theory of Optimal Law Enforcement
AbstractThe economic literature on optimal law enforcement is very recent. Becker's seminal paper on crime and law enforcement dates from 1968 and most papers which are the focus of this survey have been published in the last ten years. The core result presented by Becker is the following: the probability and the severity of punishment deter crime. Therefore, the fine should be maximal since it is a costless transfer whereas the probability of detection and conviction is costly. Much of the recent work has attempted to show why Becker's result may not hold. Copyright 1997 by Blackwell Publishers Ltd
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Economic Surveys.
Volume (Year): 11 (1997)
Issue (Month): 3 (September)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0950-0804
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