Mastrobuoni, Giovanni; Rivers, David A. - 2016
The trade-off between the immediate returns from committing a crime and the future costs of punishment depends on an … in Italy and provide non-parametric evidence on the extent of discounting from the raw data on recidivism and sentence … length. Using a discrete-choice model of recidivism, we estimate an average annual discount factor of 0.74, although there is …