This paper develops a dynamic life-cycle equilibrium model of crime with hetero-geneous agents and human capital … accumulation. Agents decide at each point in time whether to commit crimes by comparing potential gains from crime to the expected … form estimates or traditional partial equilibrium, static models of crime. Equilibrium effects can be particularly relevant …

of apprehension and the penalty if caught. While evidence indicates that rational theory is applicable to acquisitive …

offenders. The overlap between offenders and victims is not well understood in criminology, and in the economics of crime the …