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Crime and moral hazard: Does more policing necessarily induce private negligence?

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  • Guha, Brishti
  • Guha, Ashok S.

Abstract

Even risk-neutral individuals can insure themselves against crimes by combining direct expenditure on security with costly diversification. In such cases — and even when one of these options is infeasible — greater policing often actually encourages private precautions.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 115 (2012)
Issue (Month): 3 ()
Pages: 455-459

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Handle: RePEc:eee:ecolet:v:115:y:2012:i:3:p:455-459

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Crime; Policing; Private precautions; Moral hazard; Diversification;

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References

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  1. Juin-Jen Chang & Huei-Chung Lu & Mingshen Chen, 2005. "Organized Crime or Individual Crime? Endogenous Size of a Criminal Organization and the Optimal Law Enforcement," Economic Inquiry, Western Economic Association International, vol. 43(3), pages 661-675, July.
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  9. Ehrlich, Isaac, 1981. "On the Usefulness of Controlling Individuals: An Economic Analysis of Rehabilitation, Incapacitation, and Deterrence," American Economic Review, American Economic Association, vol. 71(3), pages 307-22, June.
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  12. Cameron, Samuel, 1988. "The Economics of Crime Deterrence: A Survey of Theory and Evidence," Kyklos, Wiley Blackwell, vol. 41(2), pages 301-23.
  13. Lin, Ming-Jen, 2009. "More police, less crime: Evidence from US state data," International Review of Law and Economics, Elsevier, vol. 29(2), pages 73-80, June.
  14. Dick, Andrew R., 1995. "When does organized crime pay? A transaction cost analysis," International Review of Law and Economics, Elsevier, vol. 15(1), pages 25-45, January.
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  17. Stergios Skaperdas, 2001. "The political economy of organized crime: providing protection when the state does not," Economics of Governance, Springer, vol. 2(3), pages 173-202, November.
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Cited by:
  1. Guha, Brishti, 2013. "Guns and crime revisited," Journal of Economic Behavior & Organization, Elsevier, vol. 94(C), pages 1-10.

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