In this paper, we focus on the determination of the optimal fine set by a regulator when a firm can litigate to avoid paying the fine and the monitoring agency has discretionary power to negotiate with the firm the size of the fine. The regulator needs to balance the positive effect of the fines...

Social science has long played a role in examining the efficacy and fairness of the death penalty. Empirical studies of the deterrent effect of capital punishment were cited by the Supreme Court in its landmark cases in the 1970s; most notable was the 1975 Isaac Ehrlich study, which used...

1. Prologue: The Paradox of Punishment -- 2. The Social Cost of Crime: Deterrence -- 3. Crime as Exchange: Retribution -- 4. Sentencing Guidelines and Judicial Discretion: Balancing Deterrence and Retribution -- 5. Plea Bargaining: Negotiated Justice -- 6. Repeat Offenders: Marginal Deterrence...