Evidence on the deterrent effect of capital punishment is important for many states that are currently considering a change in their position on the issue. We examine the deterrent hypothesis using county-level post-moratorium panel data and a system of simultaneous equations. The procedure we...

We use panel data for 50 states during the 1960--2000 period to examine the deterrent effect of capital punishment, using the moratorium as a "judicial experiment." We compare murder rates immediately before and after changes in states' death penalty laws, drawing on cross-state variations in...

Does capital punishment deter capital crimes? We use panel data covering the fifty states duringthe period 1960-2000 period to examine the issue. Our study is novel in four ways. First, we estimate the moratorium's full effect by using both pre- and postmoratorium evidence. Second, we exploit...

This paper starts with a review the economics of criminal behavior. Then, the authors discuss the theory of public enforcement. The economic analysis of criminal behavior and criminal law has been a hugely successful enterprise. As an academic enterprise, it has achieved the goal of...

The Companion lays out a comprehensive history of the field and, in five additional parts, it explores public choice contributions to the study of the origins of the state, the organization of political activity, the analysis of decision-making in non-market institutions, the examination of...

Theory suggests that tort reform could have two possible impacts on accidents. Reforms could increase accidents as tortfeasors internalize less of the cost of externalities and have less incentive to reduce the risk of accidents. Alternatively, tort reforms could decrease accidents as lower...