The economic fruits of patience

Bart Golsteyn, Hans Grönqvist, Lena Lindahl 19 August 2014

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It is challenging but necessary to teach children to be patient, as all parents know. In the short run, patience instilled in children can counteract impulsivity and acting-out. Our research shows that impatience predicts a range of subsequent problems in the long run.

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Topics:  Education

Tags:  crime, discount rate, patience, Childhood development, self-control, intertemporal preferences

‘Prisonomics’: A case for penal reform in the UK

Vicky Pryce interviewed by Viv Davies,

Date Published

Sat, 02/15/2014

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See Also

Prisonomics: Behind bars in Britain’s failing prisons (Pryce, V; Biteback Publising, October 2013)

Royalties for the book are being donated to Working Chance. Working Chance (www.workingchance.org/) is a charity (1131802) which changes lives and changes society by finding female ex-offenders work.

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Topics

Frontiers of economic research
Tags
crime, criminal behaviour, crime prevention

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Do ‘more police’ make us safe? Private policing and public safety Lessons from the economics of crime How to cut prison numbers What is the long-term impact of incarcerating juveniles?
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Lessons from the economics of crime

Stephen Machin, Olivier Marie 30 January 2014

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What have economists contributed to our understanding of criminal behaviour and crime control? Could they help make sense of the recent large crime drop documented in the UK and other countries (Draca 2013, Marie 2010)?

As we approach the fiftieth anniversary of Nobel laureate Gary Becker’s seminal contribution (Becker 1968), the economics of crime is becoming part of the standard portfolio that makes up the discipline. On both sides of the Atlantic, a critical mass of academic economists has specialised in the study of crime and its control, and the field is growing rapidly.

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Topics:  Frontiers of economic research

Tags:  crime, criminal behaviour, crime prevention

What is the long-term impact of incarcerating juveniles?

Anna Aizer, Joseph Doyle 16 July 2013

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The US incarcerates juveniles at a much higher rate than other nations.

  • It spends some $6 billion per year on juvenile corrections (see Figure 1 from Mendel 2011).
  • In fact, on any given day, there are over 70,000 juveniles in custody in the US (OJJDP 2011) with an average (direct) cost of $88,000 per juvenile per year.

Figure 1. Youth incarceration rate: US versus other nations

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Topics:  Education

Tags:  crime, incarceration, juvenile, youth, prisons

Games on Networks

Matthew O. Jackson, Yves Zenou,

Date Published

Sun, 09/09/2012

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Frontiers of economic research Industrial organisation

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www.cepr.org/pubs/dps/DP9127.asp

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How to reduce high incarceration rates

Ben Vollaard 24 August 2012

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Incarceration is costly – easily €100 to €200 per night per prisoner, depending on the country and the prison regime. That makes €36,500 to €73,000 per prisoner per year, excluding fixed costs of building prisons, and all other costs such as time not spent at work or with the family.

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Topics:  Frontiers of economic research

Tags:  crime, prison

Saving the banks, but not reckless bankers

Giancarlo Spagnolo 13 August 2012

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Recent revelations on traders’ behaviour in the Libor rigging case are worrisome not only as a sign of the rotten culture of financial operators, but also for the sense of legal impunity prevailing among them (Economist 2012). They suggest that bank CEOs and supervisors may have tolerated or encouraged rate rigging, or negligently lost control of banks’ operations, for years. They also indicate that law enforcement has been extremely weak in the realm of banking and finance.

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Topics:  International finance

Tags:  crime, financial regulation, bankers

Origins of the Sicilian Mafia

Arcangelo Dimico, Ola Olsson, Alessia Isopi 13 May 2012

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The Italian Mafia can be seen as one of the largest and most successful businesses in Italy. In one of the latest reports from the Italian Minister of Home Affairs, it has been estimated that revenues from just the informal sector related to the Mafia amount to almost €180 billion. In terms of GDP, revenues from Mafia-related businesses represent almost 12% of the total Italian GDP and are equal to the sum of the GDPs of Estonia, Croatia, Romania, and Slovenia (Ruffolo et al. 2010).

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Topics:  Frontiers of economic research International trade

Tags:  Italy, crime, mafia

Can the Mafia divert the allocation of public transfers?

Guglielmo Barone, Gaia Narciso 05 May 2012

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Organised crime is widely regarded as damaging to economic outcomes – let alone the effects on people’s lives. Yet little is known about the mechanism at work. A recent study by Pinotti (2011) estimates the impact of organised crime on GDP-per-capita in Italy. Pinotti compares Southern Italian regions on the basis of the dynamics and historical roots of different groups involved in organised crime. According to his analysis, organised crime is responsible for a 16% loss in GDP-per-capita over a 30-year period. Bonaccorsi di Patti (2009) shows that crime adversely affects access to credit.

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Topics:  Frontiers of economic research Macroeconomic policy Poverty and income inequality

Tags:  Italy, crime, government spending, mafia, organised crime

Can education policy be used to fight crime?

Randi Hjalmarsson, Helena Holmlund, Matthew Lindquist 29 November 2011

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How should society fight crime? Should we adopt tough-on-crime policies that increase monitoring and lengthen prison sentences? Or should we adopt a softer strategy aimed at alleviating poverty and combating discrimination?

In the past decade, economists have entered this ongoing debate in earnest. An excellent example of this new engagement is Cook and Ludwig (2011), which proposes three concrete policies for fighting crime:

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Topics:  Education

Tags:  Sweden, crime

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