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The Economics of Policing and Public Safety

[Symposium: Criminal Justice]

By Emily Owens and Bocar Ba

Journal of Economic Perspectives, Fall 2021

The efficiency of any police action depends on the relative magnitude of its crime-reducing benefits and legitimacy costs. Policing strategies that are socially efficient at the city level may be harmful at the local level, because the distribution of d...

Fragile Algorithms and Fallible Decision-Makers: Lessons from the Justice System

[Symposium: Criminal Justice]

By Jens Ludwig and Sendhil Mullainathan

Journal of Economic Perspectives, Fall 2021

Algorithms (in some form) are already widely used in the criminal justice system. We draw lessons from this experience for what is to come for the rest of society as machine learning diffuses. We find economists and other social scientists have a key role...

The Economics of Speed: The Electrification of the Streetcar System and the Decline of Mom-and-Pop Stores in Boston, 1885–1905

By Wei You

American Economic Journal: Applied Economics, October 2021

Small firms dominated the American economy in the nineteenth century, and they still dominate in many developing economies today. This paper tests whether geographic market segmentation due to underdeveloped intracity transportation technology precludes t...