TAILIEUCHUNG - Lecture Issues in economics today - Chapter 24

Learning objectives of this chapter include: The elasticity of demand, the determinants of elasticity, elasticity and total revenue, the elasticity of supply, tax incidence. | Chapter 24 The Economics of Crime Chapter Outline WHO COMMITS CRIME AND WHY THE RATIONAL CRIMINAL MODEL THE COSTS OF CRIME OPTIMAL SPENDING ON CRIME CONTROL Who Commits Crime and Why Disproportionately to their percentage in the population crime is committed by Men The young The poor The socially disadvantaged Sources of Crime Statistics Police reports Potentially subject to police biases against minorities. Victim accounts Not subject to bias because it is in the interest of a victim to give an accurate description of the perpetrator. The Result Whether we look at crime rates from police reports or from victim accounts the result is the same: minorities commit more crime than would be accounted for by their 24% of the population. The Rational Criminal Model Becker’s rational criminal model (RCM) assumes that a criminal’s choice to commit a crime is a rational one comparing the benefits of the crime with the uncertain outcome of success or jail. The model looks at crime like an .

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