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double dividend in that it reduces both minor offenses and more severe crime. We develop a model of criminal subcultures in … attractive for some people who would otherwise commit more severe crime. If social status is sufficiently important in criminal … subcultures, zero-tolerance reduces crime across the board …
Persistent link: https://www.econbiz.de/10012779694
can be tricky, this paper uses the crime strategic model (inspection game) proposed by Tsebelis. This model shows that any … attempts to increase the severity of punishment will alter the payoff of the individuals involved, leaving unchanged the … frequency of violation at equilibrium. This result is misleading: payoffs are not independent and the crime game can not be …
Persistent link: https://www.econbiz.de/10012979544
In 2007, the Wall Street Journal published an article claiming that each execution saves more than 70 lives. This example is used to show how easy it is, using simple or advanced econometric techniques, to produce results that do or do not support the deterrence hypothesis. Moreover, we also...
Persistent link: https://www.econbiz.de/10013316017
This paper argues that the “Economics of Crime” concentrates too much on punishment as a policy to fight crime, which … is unwise for several reasons. There are important instances in which punishment simply cannot reduce crime. Several … feasible alternatives to punishment exist, such as offering positive incentives or handing out awards for law abiding behavior …
Persistent link: https://www.econbiz.de/10013316343
Empirical evidence reveals that unemployment tends to increase property crime but that it has no effect on violent … crime. To explain these facts, we examine a model of criminal gangs and suggest that there is a substitution effect between … property crime and violent crime at work. In the model, non-monetary valuation of gang membership is private knowledge. Thus …
Persistent link: https://www.econbiz.de/10012773601
This paper analyzes private precautions against crime when the value of the property to be protected is private … information. Within a framework in which potential criminals can choose between various crime opportunities, we establish that …
Persistent link: https://www.econbiz.de/10013315885
Research in criminology has shown that the perceived risk of apprehension often differs substantially from the true level. To account for this insight, we extend the standard economic model of law enforcement (Becker, 1968) by considering two types of offenders, sophisticates and naïves. The...
Persistent link: https://www.econbiz.de/10012913196
This article contributes to the literature on stock market integration by developing and estimating a capital asset pricing model with segmentation effects in order to assess stock market segmentation and its effects on risk premia at the regional level. We show that the estimated degrees of...
Persistent link: https://www.econbiz.de/10013084011
In repeated normal-form (simultaneous-move) games, simple penal codes (Abreu, 1986, 1988) permit an elegant characterization of the set of subgame-perfect outcomes. We show that the logic of simple penal codes fails in repeated extensive-form games. By means of examples, we identify two types of...
Persistent link: https://www.econbiz.de/10013315551
We study the effectiveness of a novel measure to reduce gender gaps in political empowerment: double preference voting conditioned on gender, coupled with gender quotas on candidate lists. This policy was introduced in 2013 in Italian local elections. Using a regression discontinuity design, we...
Persistent link: https://www.econbiz.de/10012970062