Reward Offered, No Questions Asked: An Analysis of Rewarded Theft
The legal owner of a stolen good generally puts a higher value on that good than does the thief. There are therefore potential gains from trade between a legal owner and a successful thief. However, by trading with a thief, the legal owner is encouraging theft for 'ransom'. Should then negotiations between legal owners and thieves be outlawed? In this paper we suggest a framework for answering this question. We find that allowing such negotiations to take place may enhance the "ex ante" expected utility of owners. Copyright (c) The London School of Economics and Political Science 2004.
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Volume (Year): 71 (2004)
Issue (Month): 283 (08)
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