Corruption has serious economic and social costs and can undermine government legitimacy. Economic analysis can help one understand the incentives for bribery and extortion and the deterrent effect of the law. Such analysis suggests that the law in many jurisdictions needs to be redesigned....

Corruption has serious economic and social costs and can undermine government legitimacy. Economic analysis can help one understand the incentives for bribery and extortion and the deterrent effect of the law. Such analysis suggests that the law in many jurisdictions ought to be redesigned....