A Note on Optimal Law Enforcement under Asymmetric Information
We show that the probability of apprehension and punishment is usually reduced in a framework with asymmetric information, leading to more offenses being committed. A positive correlation between crime and asymmetry of information in the enforcement process is established. Some suggestions concerning the efficiency of private versus public enforcement are drawn.
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Volume (Year): 14 (2002)
Issue (Month): 1 (July)
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