In 1977, Mishra and Sudarshan showed that an unstable particle would never be found decayed while it was continuously observed. They called this effect the quantum Zeno effect (or paradox). Later it was realized that the frequent measurements could also accelerate the decay (quantum anti-Zeno effect). In this paper we investigate the quantum Zeno effect using the definite model of the measurement. We take into account the finite duration and the finite accuracy of the measurement. A general

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... tion for the jump probability during the measurement is derived. We find that the measurements can cause inhibition (quantum Zeno effect) or acceleration (quantum anti-Zeno effect) of the evolution, depending on the strength of the interaction with the measuring device and on the properties of the system. However, the evolution cannot be fully stopped.