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On criminals' risk attitudes
Abstract If criminals are expected utility maximizers and more sensitive to changes in the certainty than the severity of punishment, they must be risk preferrers. We show that risk aversion is notExpand
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Bias and the economics of jury selection
Abstract In considering the expected social loss of the jury process, we investigate the role of peremptory challenges based on observable juror characteristics such as race or gender. TheExpand
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The Elimination of Hung Juries: Retrials and Nonunanimous Verdicts
Relaxing the unanimity requirement for verdicts in a given criminal trial leads to fewer hung juries and more verdicts of all four types: correct and wrongful convictions, and correct and wrongfulExpand
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Bilateral Most-Favored-Customer Pricing and Collusion
In a two-period differentiated products duopoly model, most-favored-customer (MFC) pricing policies allow firms to commit to prices above the Bertrand prices. It is shown here, however, that unless aExpand
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A verification of the expected utility calibration theorem
Abstract We investigate whether a single utility function can fit data from both small- and large-scale risks. Utility functions consistent with the wage–fatality risk tradeoff are less risk averseExpand
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The Economics of Crime: An Introduction to Rational Crime Analysis
Table of Contents, Preface, Chapter One: Rational Crime Basics, Chapter Two: Efficient Punishment and Fines, Chapter Three: Prison and Crime Deterrence, Chapter Four: The Death Penalty and CrimeExpand
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Votes based on protracted deliberations
We analyze group decision-making in situations in which members discuss the value of a continuous random variable, then take an up-or-down vote based on their assessments of the continuous variable.Expand
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Pure vs. mixed commodity bundling
In the commodity bundling literature, pure bundling is ruled out as a uniquely optimal strategy because mixed bundling is always (weakly) better. This paper provides a theoretical distinction betweenExpand
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Trade-Offs: An Introduction to Economic Reasoning and Social Issues, Second Edition
When economists wrestle with issues such as unemployment, inflation, or budget deficits, they do so by incorporating an impersonal, detached mode of reasoning. But economists also analyze issuesExpand
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