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- W2235006867 abstract "A real options approach to criminal careers Cristiano Aguiar de Oliveira (Professor of Economics – PPGOM/UFPEL/FURG) Abstract This paper proposes a dynamic model based on real options to evaluate the criminal career. In the model, individuals can choose the best moment to engage in crime (illegal activity). The model proposed allows to evaluate the impact of different risk preferences, punishment probability, punishment severity and, mainly time discount in the individual’s decision. Through model calibration it is possible to observe that the option for a criminal career depends on a high return in the illegal activity even when individuals are risk neutral and when they have a low time discount. The paper also discusses youth participation in crime. Keywords: Career; Crime; Real Options. JEL classification: K42" @default.
- W2235006867 created "2016-06-24" @default.
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- W2235006867 date "2012-06-01" @default.
- W2235006867 modified "2023-09-26" @default.
- W2235006867 title "A real options approach to criminal careers" @default.
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