Welfare effects of forming a criminal organization |
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Authors: | Ken Yahagi |
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Affiliation: | 1.Graduate School of Economics,Waseda University,Tokyo,Japan |
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Abstract: | This paper develops a simple model to examine the economic consequences of two different criminal market structures in the private protection and extortion industry: (1) horizontal (decentralized) governance and market structure and (2) hierarchical (centralized) governance and market structure with a criminal organization. Forming a criminal organization produces positive or negative effects on its members and social efficiency. These results depend on the potential competitiveness among criminals and the ability of a criminal organization’s boss to target more valuable extortion victims. |
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