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Deep Pocket Punishment of Corporate Crime

Author

Listed:
  • Ognedal, T.

Abstract

Some kinds of corporate crime can be characterized as accidents, such as many types of environmental damage. These crimes are oflen expensive to deter because conviction costs are high and maximum fines are constrained by firms' ability to pay. The paper derives how enforcement costs can be reduced by switching from harm dependent to wealth dependent fines and by combining liability threats with regulation of firms' activity levels.

Suggested Citation

  • Ognedal, T., 1996. "Deep Pocket Punishment of Corporate Crime," Memorandum 1996_022, Oslo University, Department of Economics.
    • Handle: RePEc:hhs:osloec:1996_022
    as

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    More about this item

    Keywords

    ENTERPRISES; ENVIRONMENTAL POLICY;

    JEL classification:

    • K30 - Law and Economics - - Other Substantive Areas of Law - - - General
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm

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