Will a proportional increase in probability of being caught, Microeconomics

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Will a proportional increase in probability of being caught

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

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Microeconomics: Will a proportional increase in probability of being caught

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Microeconomics: Will a proportional increase in probability of being caught

Reference No:- TGS068274

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Defining moment for economists

Q : What would be the total income tax expense

Q : Marshall-lerner condition

Q : Result of the corporate losses

Q : Will a proportional increase in probability of being caught

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Q : How should claxton report sale in its 2009 income statement

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Will a proportional increase in probability of being caught

Reference No:- TGS068274

Recent Questions Asked Microeconomics

Q : Defining moment for economists

Q : What would be the total income tax expense

Q : Marshall-lerner condition

Q : Result of the corporate losses

Q : Will a proportional increase in probability of being caught

Q : Labor force participants and unemployment rate

Q : How should claxton report sale in its 2009 income statement

Q : Will the price rise or fall from the current level

Q : Arthur putative threat value

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