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Crime, Punishment, and the Market for Offenses

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TLDR
In this paper, two major themes of the literature are outlined: the evolution of a'market model' to explain the diversity of crime across time and space, and the debate about the usefulness of 'positive' versus 'negative' incentives.
Abstract
Crime is a subject of intense emotions, conflicting ideologies. However, economists have generally explained it as a reflection of individual choice and equilibrating market forces. Two major themes of the literature are outlined: the evolution of a 'market model' to explain the diversity of crime across time and space, and the debate about the usefulness of 'positive' versus 'negative' incentives. Systematic analyses generally indicate that crime is affected on the margin by both positive and negative incentives; there are serious limitations to the effectiveness of incapacitation and rehabilitation; and optimal enforcement strategies involve trade-offs between narrow efficiency and equity considerations.

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Crime and Punishment: An Economic Approach

TL;DR: In fact, some common properties are shared by practically all legislation, and these properties form the subject matter of this essay as discussed by the authors, which is the basis for this essay. But, in spite of such diversity, some commonsense properties are not shared.

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Participation in Illegitimate Activities: A Theoretical and Empirical Investigation

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Participation in Illegitimate Activities: A Theoretical and Empirical Investigation

TL;DR: In this article, a theory of participation in illegitimate activities is developed and tested against data on variations in index crimes across states in the United States and behavioral implications are derived using the state preference approach to behavior under uncertainty.
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