Prospect theory, crime and punishment

Sanjit Dhami and Ali al-Nowaihi

Chapter 7 in Research Handbook on Behavioral Law and Economics, 2018, pp 174-218 from Edward Elgar Publishing

Abstract: Dhami and Ali al-Nowaihi consider the applications of prospect theory to crime and punishment. The authors apply prospect theory to a generic model of crime and discuss the implications. They discuss two problems in depth. The first is the tax evasion problem. The second is a foundational result in law and economics, known as the Becker proposition. They also note the limitations of the framework.

Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
Date: 2018
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