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| Author: | Garoupa, N. |
| Title: | Optimal magnitude and probability of fines |
| Journal: | European Economic Review
2001 : OCT, VOL. 45:9, p. 1765-1771 |
| Index terms: | CRIME CRIMINAL LAW |
| Freeterms: | FINES |
| Language: | eng |
| Abstract: | The economic literature on crime and punishment focuses on the trade-off between probability and severity of punishment, and suggests that detection probability and fines are substitutes. In this paper, it is shown that, in the presence of substantial underdeterrence caused by costly detection and punishment, these instruments may become complements. When offenders are poor, the deterrent value of monetary sanction is low. Thus, the government does not invest a lot in detection. |
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