What was the main criticism of the present texas

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Q1. In deciding to park in an illegal place, any individual knows to the probability of getting a ticket is p also to the fine for receiving the ticket is f. Assume to all individuals are risk averse (to is, U''(W)<0, where W is the individuals' wealth).Will a proportional rise in the probability of being caught or a proportional rise in the fine be a more effective deterrent to illegal parking?

Q2. Illustrate what was the main criticism of the present Texas constitution behind the Ratliff-Junell proposal for a latest constitution?

Reference no: EM1319547

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