The thief’s wages: theft and human capital development
构建模型分析盗窃行为的经济理性，发现贴现率差异与初始人力资本差异共同创造盗窃动机，并用美国青年纵向调查数据校准模型。
In this paper, a model is developed to investigate whether theft can be economically rational. It is shown that heterogeneity in capital accumulation rates (or ‘learning ability’) cannot create any noticeable difference in incentives to steal. Further heterogeneity in instantaneous opportunity cost is both too low and runs in the wrong direction to have any explanatory role. However, heterogeneity in discount rates in combination with differences in initial human capital can create an incentive for theft. The model is calibrated from the National Longitudinal Study of Youth 1997 with data from 1997 to 2011.