Crime and punishment: Further results
AbstractI consider a general specification of criminals' objective function and argue that, when the general non-expected utility theory is substituted for the traditional expected utility theory, the high-fine-low-probability result (Becker, 1968) only holds under specific and strong restrictions.
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 344.
Date of creation: Nov 1998
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Certainty and severity of punishment; expected and non-expected utilities;
Find related papers by JEL classification:
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
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