Crime and moral hazard: Does more policing necessarily induce private negligence?
AbstractEven risk-neutral individuals can insure themselves against crimes by combining direct expenditure on security with costly diversification. In such cases — and even when one of these options is infeasible — greater policing often actually encourages private precautions.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 115 (2012)
Issue (Month): 3 ()
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Web page: http://www.elsevier.com/locate/ecolet
Crime; Policing; Private precautions; Moral hazard; Diversification;
Find related papers by JEL classification:
- K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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