How to make the fine fit the corporate crime?
研究动态最优惩罚理论，指出贝克尔1968年静态模型中的最优罚款应为社会成本倍数的结论在动态环境下不再成立，动态模型的结果与静态模型截然不同。
This paper investigates dynamic optimal punishment theory. Previous studies of optimal punishment theory have all been confined to a static setup. The most celebrated result in the literature is Becker's (1968) optimal punishment theory, which states that the optimal fine should be a multiple of the social cost of the crime. I show that this result is no longer valid in a dynamic environment. The implications of the dynamic model of optimal punishment are found to be strikingly different from those of the static model.