In order to lengthen prison terms, many U.S. states have limited parole boards' traditional authority to grant early releases. I develop a framework in which the welfare effects of this reform depend on (1) the elasticity of future recidivism with respect to time in prison, (2) the accuracy of...

This article investigates whether the death penalty encourages defendants charged with potentially capital crimes to plead guilty in exchange for lesser sentences. I exploit a natural experiment in New York State: the 1995 reinstatement of capital punishment, coupled with the public refusal of...