This paper uses increases in felony larceny thresholds as a negative shock to felony conviction probability to examine … the impact of punishment severity on criminal behavior. In the theft value distribution between old and new larceny … thresholds ("response region"), higher thresholds cause a 2 percent increase in the average larceny value within 120 days of …

changes in larceny rates driven by the enactment of higher felony larceny thresholds. Pre-enactment hidden tax rates are small …

This paper uses increases in felony larceny thresholds as a negative shock to felony conviction probability to examine … the impact of punishment severity on criminal behavior. In the theft value distribution between old and new larceny … thresholds ("response region"), higher thresholds cause a 2 percent increase in the average larceny value within 120 days of …

changes in larceny rates driven by the enactment of higher felony larceny thresholds. Pre-enactment hidden tax rates are small …