Friedman, Ezra; Wickelgren, Abraham - Yale Law School John M. Olin Center for Studies in Law, …
We consider a model of crime with rational Bayesian Jurors. We find that if jurors are not perfectly informed, even when there is no limit to the size of the punishment that can be imposed, it is not possible to deter all crime. There is a finite lower bound on the crime rate which results from...