Difference between revisions of "Becker, G. and G. Stigler (1974), Law Enforcement, Malfeasance, and the Compensation of Enforcers"
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|Has page=Becker, G. and G. Stigler (1974), Law Enforcement, Malfeasance, and the Compensation of Enforcers | |Has page=Becker, G. and G. Stigler (1974), Law Enforcement, Malfeasance, and the Compensation of Enforcers | ||
|Has title=Law Enforcement, Malfeasance, and the Compensation of Enforcers | |Has title=Law Enforcement, Malfeasance, and the Compensation of Enforcers | ||
| − | |Has author= | + | |Has author=Becker, G. and G. Stigler |
|Has year=1974 | |Has year=1974 | ||
|In journal= | |In journal= | ||
Revision as of 12:22, 29 September 2020
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| Has author | Becker, G. and G. Stigler |
| Has year | 1974 |
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Return to BPP Field Exam Papers 2012
Compensation of Enforcers
B&S propose two methods:
- Paying higher wages and monitoring performance to make honest behavior attractive enough.
- Making enforcers 'partners' of Victims in claiming compensation
Focus on method 1 -- Solve using backward induction. See paper for solution for [math]W_{1}^{*}[/math] and [math]W_{2}^{*}[/math]
