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In a critique of the Loewenstein and Prelec [Loewenstein G., Prelec D., 1992. Anomalies in intertemporal choice: Evidence and an interpretation. The Quarterly Journal of Economics 107, 573-597] theory of intertemporal choice, [al-Nowaihi, A., Dhami, S., 2006. A note on the Loewenstein-Prelec...
Persistent link: https://www.econbiz.de/10005362511
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/10011065156
Persistent link: https://www.econbiz.de/10005276183