Agency Problems in Law Enforcement: Theory and Application to the U.S. Coast Guard
研究公共执法中的代理问题，以美国海岸警卫队防止石油泄漏为例，推导最优惩罚契约，并用微观数据检验现有检查与惩罚的有效性，探讨如何改进执法激励。
We study two issues in the enforcement of public law. The first is whether the system of inspections and penalties set by the regulator is effective. The second is whether a better system of inspections and penalties can be designed, given the institutional constraints under which the regulator must function. We study these issues in the context of oil spill prevention activities of the U.S. Coast Guard (USCG), the agency entrusted with the enforcement of maritime pollution laws. A theoretically optimal contract that mixes penalties based on the amount of pollution ex post with penalties based on the extent of noncompliance ex ante is derived. The effectiveness of USCG inspections and penalties in reducing oil spills is then econometrically studied using microlevel data on a panel of U.S. flag tank vessels. Whether the optimal penalty can potentially improve the effectiveness of compliance inspections in reducing oil spills is examined in the light of the empirical results and recent developments in the economics and public management literature on effective incentive contracting. Among our findings is the potential for combining unilateral incentive-based methods with cooperative methods based on reciprocity to solve the complex problem of law enforcement.