THE ECONOMICS OF BAIL SETTING

Abstract

This academic exercise derives the bail bond that serves as an effective tool in securing the defendant's attendance at trial. This study shows that it is possible for a moderate bail be set even for capital offences. It is found that the probability of reapprehension and the expected cost of punishment are two important determinants in the granting and setting of bail amount. The bail system offers release from detention only to those who can provide some financial assurance that theyw will be available for trial. This discrimination between those with money and those without it for purposes of pre-trial release from detention may conflict with the equal protection and fairness notions. Efficiency provides an explanation as to why the bail system is what it is today.