Using portfolio analysis in a type of controlled group experiment, this study develops an
empirical model of homicide changes in Texas over a period of a 'normal'number of
executions. The empirically derived model then estimates the changes in the number of ...

A bstract. Two time series relationships with respect to police and criminal activities are
analyzed. These relationships are: 1. That between police input and police output where the
latter was measured by arrest and convictions rates and the former by expenditures and ...

If the behavior of potential murderers does in fact respond to the risk of punishment, it is the
perceived risk rather than the ex post risk as measured by arrest rates, conviction rates, or
execution rates. Previous empirical studies of homicide behavior have, by and large, ...

The nation's concern with drug-control policy has escalated in recent years. This heightened
anxiety is reflected in the growth of federal drug-control budget authority appropriated by the
Congress. In fiscal year 1985 these budgetary obligations were $2.75 billion; by 1994 they ...

Abstract This paper examines the market reaction to three different events related to
allegations of price-fixing: the initial charges, the firm's plea, and the resolution of the case.
Negative, risk-adjusted shareholder returns are associated with the initial charge of price- ...

The objectives of this paper are (1) to distinguish moral risk (the risk associated with unfair
business practice) from normal business (operating) risk and financial (default) risk;(2) to
analyze the effect of moral risk on the systematic risk of a nonlevered asset; and (3) to ...

A bstract. Six attempts to measure the deterrence effect of law enforcement on certain
criminal activities, as well as one by the author, have produced no clear, unequivocal
evidence to support the belief that increased public expenditures on law enforcement ...

Since Gary Becker's article on the economics of crime and punishment, economists have
explored extensively the possible deterrence effect of standard enforcement variables, not
only for their public policy implications but to test the hypothesis that illegitimate behavior ...

In an earlier work the impact of an execution moratorium in Texas on the monthly returns
(first differences) of homicides was investigated. That moratorium was judicially imposed
pending the appeal of a death sentence that could have had widespread consequences. ...