The standard model of optimal deterrence predicts that the probability of wrongful conviction of the innocent is, at the margin, as detrimental to deterrence as the probability of wrongful acquittal of guilty individuals. We extend the model in several directions: using expected utility as well...

The aim of this paper is to critically revise the well-established attitude towards economic theorizing on property as a complete bundle of rights over well-defined uses. While some authors have previously introduced the incomplete dimension of property in their discourse, they have...