Optimal Enforcement with Heterogeneous Private Costs of Punishment
研究了监管工具对不同个体产生不同激励效应，导致过度威慑或威慑不足的社会成本，并探讨了通过组合工具、提高检测概率等方式减少效率损失的方法。
We formalize the idea that regulatory devices may generate different incentive effects for different individuals. These unequal incentive effects can generate social costs by causing some individuals to be overdeterred and others to be underdeterred. This is an underappreciated dimension over which one ought to compare the efficiency of various regulatory tools. We then note various methods to reduce inefficiencies caused by unequal incentive effects. Among others, we show that combining tools that have negatively related effects can improve welfare, increasing the probability of detection can be preferable to imposing large transferable sanctions, and regulators should incur real costs to be able to make more extensive use of unvarying instruments.