The Economics of Law

For the average person, the criminal justice system can be a bureaucratic and confusing process. It is for exactly these reasons, many defendants will choose to spend exorbitant amounts of money to prove their innocence or hide their guilt. Therefore, when thinking from an economic perspective, one begins to wonder whether or not the vast amounts of money allocated to building a legal defense, actually have statistical impact on the outcome of the sentence. Or, if perhaps it is the characteristics of the defendant, the case, or the judge that truly account for the determination of the final verdict.