Crime and Punishment: An Economic Approach

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"Crime and Punishment: An Economic Approach" is a seminal 1968 paper by economist Gary Becker that applies rational choice and cost-benefit analysis to explain criminal behavior and the design of optimal law enforcement.

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Crime and Punishment: An Economic Approach canonical 1

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Predicate Object
instanceOf academic paper
economics paper
analyzes trade-off between probability and severity of punishment
argues fines are often more efficient than imprisonment
optimal enforcement balances enforcement costs and crime reduction benefits
assumption crime is a choice among alternative activities
individuals are rational utility maximizers
law enforcement resources are costly
author Gary Becker NERFINISHED
Gary S. Becker NERFINISHED
centralConcept cost-benefit analysis
deterrence
expected utility
fines
imprisonment
optimal law enforcement
probability of punishment
rational choice
severity of punishment
social welfare maximization
countryOfOrigin United States of America
surface form: United States
field economics
influenced deterrence-based criminal justice policies
economic models of criminal behavior
influencedField economics of crime
law and economics
public policy analysis
language English
methodology comparative statics analysis
formal economic modeling
proposes individuals commit crime when expected benefits exceed expected costs
publicationYear 1968
publishedIn Journal of Political Economy NERFINISHED
relatedConcept expected punishment
marginal deterrence
optimal sanctions
relatedWork The Economic Approach to Human Behavior NERFINISHED
status foundational paper in economics of crime
seminal work in law and economics
subfield economics of crime
law and economics
microeconomics
theoreticalFramework neoclassical economics
rational actor model
topic allocation of resources to law enforcement
design of optimal criminal justice policy
sanction structures
social costs of crime

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Gary Becker notableWork Crime and Punishment: An Economic Approach