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- Title
Reward Offered, No Questions Asked: An Analysis of Rewarded Theft.
- Authors
Katz, Eliakim; Rosenberg, Jacob
- Abstract
The legal owner of a stolen good generally puts a higher value on that good than does the thief. There are therefore potential gains from trade between a legal owner and a successful thief. However, by trading with a thief, the legal owner is encouraging theft for ‘ransom’. Should then negotiations between legal owners and thieves be outlawed? In this paper we suggest a framework for answering this question. We find that allowing such negotiations to take place may enhance the ex ante expected utility of owners.
- Subjects
RECEIVING stolen goods; MARKET value; COMMERCE; ECONOMICS; EXPECTED utility
- Publication
Economica, 2004, Vol 71, Issue 283, p501
- ISSN
0013-0427
- Publication type
Article
- DOI
10.1111/j.0013-0427.2004.00383.x