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Becker's theory of crime, penalties must be at least as high as expected benefits to deter crimes. For example, we start by … personal benefits. In theory, deterrence to participate in cartel activities must be based both on the incentives of firms as a …
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We use rich microdata on bank robberies to estimate individual-level disutilities of imprisonment. The identification rests on the money versus apprehension trade-off that robbers face inside the bank when deciding whether to leave or collect money for an additional minute. The distribution of...
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