Discounting severely future consequence of criminal behavior

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Many individuals commit crime under conditions of temporary diminished rationality by discounting severely future consequences of criminal behavior (see chapter 12, Cooter and Ulen's textbook). Explain why policies that aim to increase the likelihood of punishment (such as an increase in the police force) may be more effective in detering crime for such individuals compared to policies that aim to increase the severity of punishment.

Reference no: EM13981004

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