Optimal Criminal Behavior and the Disutility of Jail: Theory and Evidence On Bank Robberies

摘要: Based on unique data individual bank robberies perpetrated in Italy between 2005 and 2007, this paper estimates the distribution of criminals' disutility jail. The identification rests money versus risk trade-off criminals face when deciding whether to stay an additional minute robbing bank. When robbers are successful a observed duration is assumed be optimal one, jail represents only unknown determinant that duration. One can thus solve for as function expected marginal haul, average hazard rate arrest.