It’s not that professors in the Department of Agricultural and Applied Economics at the University of Wyoming are involved in money laundering, but they are — sort of.
Economists Chian Jones Ritten and Chris Bastian, and their partner, Professor Emeritus Owen Phillips in UW’s College of Business, shouldn’t have to worry about FBI agents bearing handcuffs on the UW campus this holiday season.
But policymakers directing money laundering enforcement might be interested in the trio’s research into the best ways to reduce illegal trade.
Their findings, published in the research journal PLOS ONE in November, suggest concentrating law enforcement efforts at the point of sale is more effective to reduce illegal market activity than seizing laundered profits. Their article, titled “The relative effectiveness of law enforcement policies aimed at reducing illegal trade: Evidence from laboratory markets,” can be read here.