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Becker, G. and G. Stigler (1974), Law Enforcement, Malfeasance, and the Compensation of Enforcers (view source)
Revision as of 15:41, 16 May 2012
, 15:41, 16 May 2012New page: 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...
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>
===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>
