To Minimize Punishment Cost Choose the most efficient punishment Consider an offense currently punished with five years in prison We determine that that is equivalent,for the criminal,to 1/6 chance of execution So when someone is convicted,we roll a die ·1-5 we turn him loose ·6 we hang him Deterrence is the same,so victims are no worse off The average cost to the criminal is the same And we save the cost of running the prison What is wrong with this argument?To Minimize Punishment Cost • Choose the most efficient punishment • Consider an offense currently punished with five years in prison • We determine that that is equivalent, for the criminal, to 1/6 chance of execution • So when someone is convicted, we roll a die • 1-5 we turn him loose • 6 we hang him • Deterrence is the same, so victims are no worse off • The average cost to the criminal is the same • And we save the cost of running the prison • What is wrong with this argument?