Search Results - subject:"Punishment functions"

Dhami, Sanjit; al-Nowaihi, Ali - Department of Economics, Leicester University - 2011

All models in Law and Economics use punishment functions (PF) that incorporates a trade-off between probability of …. Furthermore, the HPF is an upper (lower) bound for an even larger class of punishment functions. If the HPF cannot (can) deter …

Persistent link: https://www.econbiz.de/10009293087

An extension of the Becker proposition to non-expected utility theory

Dhami, Sanjit; al-Nowaihi, Ali - Department of Economics, Leicester University - 2011

In a seminal paper, Becker (1968) showed that the most efficient way to deter crime is to impose the severest possible penalty (to maintain adequate deterrence) with the lowest possible probability (to economize on costs of enforcement). We shall call this the Becker proposition (BP). The BP is...

Persistent link: https://www.econbiz.de/10009293085

The Behavioral Economics of Crime and Punishment

Dhami, Sanjit; al-Nowaihi, Ali - Department of Economics, Leicester University - 2010

The Becker proposition (BP) is one of the founding pillars of the modern literature on Law and Economics. It states that it is optimal to impose the severest possible punishment (to maintain effective deterrence) at the lowest possible probability (to economize on enforcement costs). The BP is...

Persistent link: https://www.econbiz.de/10008457272