Escalating Penalties – An Infinite Game - Approach
نویسندگان
چکیده
The paper provides an economic rationale for punishing repeat offenders with increasing sanctions. We analyse the optimal intertemporal punishment scheme within an infinite game framework. The legal authority is assumed to minimize the social cost of punishment under the constraint of keeping delinquency at a maximal tolerable level. This level is exogenously determined. JEL classification: K14
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