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Journal Instructions A Journal How are the rules/laws used to prevent a crime more like a property rule? How are they different from the GRADE rules used to prevent a tort? If we have laws similar to property rules that deter crime, does that mean crime will never occur? Explain your answer. Comme If crime does occur, is it feasible to just keep raising the expected level of punishment to deter crime? Explain why and what does the cost of deterrence have to do with this? INDEX We can increase expected punishment by decreasing the probability of getting caught while increasing the level of punishment. What does this do to the cost of deterrence. What is the consequence of having positive cost of deterrence. Explain the idea of optimal punishment in this context