Behavioral Economics of Crime Rates and Punishment Levels

• Main Authors: Chiba, Saori, Leong, Kaiwen
• Other Authors: School of Humanities and Social Sciences
• Format: Article
• Language: English
• Published: 2016
• Subjects: Imperfect Recall; Willpower
• Online Access: https://hdl.handle.net/10356/81339; http://hdl.handle.net/10220/40843
• Institution: Nanyang Technological University

Empirical studies have shown, paradoxically, that increasing the probability of apprehension can correlate with an increase in the total number of criminal actions. To examine this phenomenon, we develop a dynamic model of “personal rules” in which forgetfulness and hyperbolic discounting together c...