Incentive and incarceration effects in a general equilibrium model of crime [An article from: Journal of Economic Behavior and Organization]

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Description:
An intertemporal general equilibrium model of criminal behavior is used to analyze the effect on crime of changing policy parameters, specifically the length of the prison term, the severity of punishment, and the amount of police resources. The number of crimes in society can be decomposed into an incentive part, an incarceration part, and a crime competition part.