LIBRARY: Optimal Bail and the Value of Freedom: Evidence from the Philadelphia Bail Experiment

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Optimal Bail and the Value of Freedom: Evidence from the Philadelphia Bail Experiment

Optimal Bail and the Value of Freedom: Evidence from the Philadelphia Bail Experiment

Downloaded 29 times since 07/14/2007.

University of Chicago Law School (Chicago, IL)

Published 2007. 58 pages.

"This paper performs a cost-benefit analysis to determine socially optimal bail levels that balance the costs to defendants against the costs to other members of society" (p. 1). Sections of this article following an abstract are: introduction; background; conceptual framework; data and descriptive evidence; econometric methods; results according to cross-sectional probit estimates, instrumental variables estimates, estimates of the value of freedom, calculation of the socially optimal bail amount; and conclusion. Typical defendants would pay $1,000 for 90 days of freedom. Accession Number: 022404

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