The Benefits of Reducing Gun Violence: Evidence from Contingent-Valuation Survey Data

Authors: Ludwig J.¹; Cook P.J.²

Source: Journal of Risk and Uncertainty, Volume 22, Number 3, May 2001 , pp. 207-226(20)

Publisher: Springer

Buy & download fulltext article:

Price: $47.00 plus tax (Refund Policy)

Abstract:

This article presents an estimate of the benefits of reducing crime using the contingent-valuation (CV) method. We focus on gun violence, a crime of growing policy concern in America. Our data come from a national survey in which we ask respondents referendum-type questions that elicit their willingness-to-pay (WTP) to reduce gun violence by 30%. We estimate that the public's WTP to reduce gun assaults by 30% equals $24.5 billion, or around $1.2 million per injury. Our estimate implies a statistical value of life that is quite consistent with those derived from other methods.

Keywords: costs of crime; gun violence; contingent valuation

Language: English

Document Type: Regular paper

Affiliations: 1: Georgetown University and National Consortium on Violence Research, and Georgetown Public Policy Institute, 3600 N Street, NW, Suite 200, Washington, DC 20007 ludwigj@gunet.georgetown.edu 2: Duke University, National Consortium on Violence Research, and National Bureau of Economic Research cook@pps.duke.edu

Publication date: 2001-05-01