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Dhami, Sanjit; al-Nowaihi, Ali --- "Prospect theory, crime and punishment" [2018] ELECD 216; in Teitelbaum, C. Joshua; Zeiler, Kathryn (eds), "Research Handbook on Behavioral Law and Economics" (Edward Elgar Publishing, 2018) 174

Book Title: Research Handbook on Behavioral Law and Economics

Editor(s): Teitelbaum, C. Joshua; Zeiler, Kathryn

Publisher: Edward Elgar Publishing

ISBN: 9781849805674

Section: Chapter 7

Section Title: Prospect theory, crime and punishment

Author(s): Dhami, Sanjit; al-Nowaihi, Ali

Number of pages: 45

Abstract/Description:

Dhami and Ali al-Nowaihi consider the applications of prospect theory to crime and punishment. The authors apply prospect theory to a generic model of crime and discuss the implications. They discuss two problems in depth. The first is the tax evasion problem. The second is a foundational result in law and economics, known as the Becker proposition. They also note the limitations of the framework.