Chmura, Thorsten; Engel, Christoph; Englerth, Markus - Max-Planck-Institut zur Erforschung von … - 2013
expected value of criminal sanctions, i.e. the product of severity times certainty, is often below the expected benefit. We … explain how imperfect criminal sanctions deter crime. The critical component of the theory is aversion against outperforming …