The standard model of optimal deterrence predicts that the probability of wrongful conviction of the innocent is, at the margin, as detrimental to deterrence as the wrongful acquittal of guilty individuals. We extend the model in several directions: using expected utility as well as nonexpected...

The principle that it is better to let some guilty individuals be set free than to mistakenly convict an innocent person is generally shared by legal scholars, judges and lawmakers of modern societies. The paper shows why this common trait of criminal procedure is also efficient. It extends the...

Statistical procedures that correct for multiple testing typically result in hypothesis tests with reduced statistical power because adjustment methods reduce the likelihood of identifying real differences between contrasted groups. There is disagreement among researchers about the use of...

Analysts frequently find it convenient to use the same ARMA model to make forecasts for multiple time series. The trick is to know when it is safe to assume that multiple series are generated by the same underlying process. Although several authors have developed statistical procedures for...