CORRUPTION AS A GAMBLE - Harvard University
Princeton University, Princeton, NJ 08544, USA Received October 1986, revised version received March 1987 ... discount rate, a lower degree of risk-aversion, and a lower wage rate, all ... So the upper bound of his acceptance set is given by the cutoff value c=(l -t)/[l -t(l -h)]. (1) Knowing this, the official obviously maximizes his expected ... ................
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