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Authors
Advisor(s)
Abstract(s)
In this paper, we develop a general equilibrium model of crime. It is shown that law and norms are substitutes in achieving a stable equilibrium. Here we offer a new interpretation of different theories of social norms in the context of crime and deterrence. The law and economics theory is presented as an ‘opportunism- limiting’ approach to norms whereas the evolutionary theory is presented as an ‘opportunity cost’ approach.
Description
Keywords
Crime Punishment Norms
Pedagogical Context
Citation
Garoupa, Nuno (2003). "Crime and social norms". Portuguese Economic Journal, 2(3):131-144
Publisher
Springer Verlag