Summary of the Presentation: We will start by looking at the public nature of law enforcement. The economic theory of deterrence with monetary and nonmonetary sanctions will be explained in detail. Recent developments and extensions of the theory of deterrence will be addressed. A quick look at other goals of law enforcement such as incapacitation and preference-shaping will complete the first part of the lecture.

In the second part of the lecture, we will consider the general structure of law enforcement and explore the borderline between criminal and tort law. Topics will include the choice of private versus public enforcement, joint use methods of legal intervention, the role of safety regulation, and particular aspects of corporate criminal liability and regulation of financial markets.

The lecture concludes with reflections on comparative aspects of law enforcement, namely the role of legislators and judges, administration of law enforcement, and unification of law enforcement.