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Private protection against crime when property value is private information

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  • Baumann, Florian
  • Friehe, Tim

Abstract

This paper analyzes private precautions against crime when the value of the property to be protected is private information. In a framework in which potential criminals can choose between different crime opportunities, we establish that decentralized decision-making by potential victims may lead to suboptimal levels of investment in private protection. This outcome is possible when observable precautions inform potential offenders about the value at risk even when the diversion effect due to private safety measures is taken into account.

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Bibliographic Info

Article provided by Elsevier in its journal International Review of Law and Economics.

Volume (Year): 35 (2013)
Issue (Month): C ()
Pages: 73-79

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Handle: RePEc:eee:irlaec:v:35:y:2013:i:c:p:73-79

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

Related research

Keywords: Crime; Displacement; Private protection; Asymmetric information;

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References

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  8. Baumann, Florian & Friehe, Tim, 2013. "Private protection against crime when property value is private information," DICE Discussion Papers 91, Heinrich‐Heine‐Universität Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
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Citations

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Cited by:
  1. van Ours, Jan C & Vollaard, Ben, 2013. "The engine immobilizer: a non-starter for car thieves," CEPR Discussion Papers 9298, C.E.P.R. Discussion Papers.
  2. Baumann, Florian & Friehe, Tim, 2013. "Private protection against crime when property value is private information," International Review of Law and Economics, Elsevier, vol. 35(C), pages 73-79.
  3. Keith N. Hylton & Haizhen Lin & Hyo-Youn Chu, 2013. "Negligence and Two-Sided Causation," Working Papers 2013-05, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
  4. Baumann, Florian & Denter, Philipp & Friehe, Tim, 2013. "Hide or show? Endogenous observability of private precautions against crime when property value is private information," DICE Discussion Papers 115, Heinrich‐Heine‐Universität Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).

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