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Crime and Punishment: Further Results

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Author Info
Nuno Garoupa

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Abstract

I 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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Publisher Info
Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 344.

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Date of creation: Nov 1998
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Handle: RePEc:upf:upfgen:344

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Related research
Keywords: 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

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. A. Mitchell Polinsky & Steven Shavell, 2000. "The Economic Theory of Public Enforcement of Law," Journal of Economic Literature, American Economic Association, vol. 38(1), pages 45-76, March. [Downloadable!] (restricted)
    Other versions:
  2. Machina, Mark J., 1989. "Comparative statics and non-expected utility preferences," Journal of Economic Theory, Elsevier, vol. 47(2), pages 393-405, April. [Downloadable!] (restricted)
  3. Hey, John D & Orme, Chris, 1994. "Investigating Generalizations of Expected Utility Theory Using Experimental Data," Econometrica, Econometric Society, vol. 62(6), pages 1291-1326, November. [Downloadable!] (restricted)
  4. Karni, Edi & Safra, Zvi, 1990. "Rank-Dependent Probabilities," Economic Journal, Royal Economic Society, vol. 100(401), pages 487-95, June. [Downloadable!] (restricted)
    Other versions:
  5. Lucian Arye Bebchuk & Louis Kaplow, 1992. "Optimal Sanctions When Individuals are Imperfectly Informed About the Probability of Apprehension," NBER Working Papers 4079, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  6. Machina, Mark J, 1982. ""Expected Utility" Analysis without the Independence Axiom," Econometrica, Econometric Society, vol. 50(2), pages 277-323, March. [Downloadable!] (restricted)
  7. Mark J. Machina, 1995. "Non-Expected Utility and The Robustness of the Classical Insurance Paradigm," The Geneva Risk and Insurance Review, Palgrave Macmillan Journals, vol. 20(1), pages 9-50, June. [Downloadable!] (restricted)
  8. Yaari, Menahem E, 1987. "The Dual Theory of Choice under Risk," Econometrica, Econometric Society, vol. 55(1), pages 95-115, January. [Downloadable!] (restricted)
  9. Neilson, William S. & Winter, Harold, 1997. "On criminals' risk attitudes," Economics Letters, Elsevier, vol. 55(1), pages 97-102, August. [Downloadable!] (restricted)
  10. Block, Michael K & Gerety, Vernon E, 1995. "Some Experimental Evidence on Differences between Student and Prisoner Reactions to Monetary Penalties and Risk," Journal of Legal Studies, University of Chicago Press, vol. 24(1), pages 123-38, January.
  11. Polinsky, Mitchell & Shavell, Steven, 1979. "The Optimal Tradeoff between the Probability and Magnitude of Fines," American Economic Review, American Economic Association, vol. 69(5), pages 880-91, December. [Downloadable!] (restricted)
  12. Cameron, Samuel, 1988. "The Economics of Crime Deterrence: A Survey of Theory and Evidence," Kyklos, Blackwell Publishing, vol. 41(2), pages 301-23.
  13. Harless, David W & Camerer, Colin F, 1994. "The Predictive Utility of Generalized Expected Utility Theories," Econometrica, Econometric Society, vol. 62(6), pages 1251-89, November. [Downloadable!] (restricted)
  14. Neilson, William S, 1998. "Optimal Punishment Schemes with State-Dependent Preferences," Economic Inquiry, Oxford University Press, vol. 36(2), pages 266-71, April.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Nuno Garoupa, 2003. "Behavioral Economic Analysis of Crime: A Critical Review," European Journal of Law and Economics, Springer, vol. 15(1), pages 5-15, January. [Downloadable!] (restricted)
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