Can economic theory address criminal punishment?

Does Death Penalty Save Lives? A New Debate

National
Does Death Penalty Save Lives? A New Debate
By ADAM LIPTAK
Published: November 18, 2007
Studies indicating that executions are a deterrent against future murders have been the subject of sharp criticism.

Excerpt:

According to roughly a dozen recent studies, executions save lives. For each inmate put to death, the studies say, 3 to 18 murders are prevented.

The effect is most pronounced, according to some studies, in Texas and other states that execute condemned inmates relatively often and relatively quickly.

The studies, performed by economists in the past decade, compare the number of executions in different jurisdictions with homicide rates over time — while trying to eliminate the effects of crime rates, conviction rates and other factors — and say that murder rates tend to fall as executions rise. One influential study looked at 3,054 counties over two decades.

Comment: Is capital punishment a disincentive to crime? Studies say ..... "Yes"