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Economics of Crime: Panel Data Analysis of Bank Robbery in the United States

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  • Hedayeh Samavati

Abstract

This paper examines the determinants of bank robbery in the United States using a rational choice model. Panel data estimation techniques were used to analyze the data for all 50 states and the District of Columbia from 1990 through 2000. A random-effects model emerged as the most appropriate estimating model for costs and benefits of bank robbery. Among the significant determinants of the rate of bank robbery were the unemployment rate and amount of loot. The findings suggest that the rational choice model is a suitable framework for examining bank robbery. However, if we are to draw useful policy conclusions, better data are needed to accurately measure the opportunity costs of bank robbery. (JEL C23, K42) Copyright International Atlantic Economic Society 2006

Suggested Citation

  • Hedayeh Samavati, 2006. "Economics of Crime: Panel Data Analysis of Bank Robbery in the United States," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 34(4), pages 455-466, December.
    • Handle: RePEc:kap:atlecj:v:34:y:2006:i:4:p:455-466
    DOI: 10.1007/s11293-006-9033-y
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    References listed on IDEAS

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    1. Gary S. Becker, 1974. "Crime and Punishment: An Economic Approach," NBER Chapters, in: Essays in the Economics of Crime and Punishment, pages 1-54, National Bureau of Economic Research, Inc.
    2. Arellano, Manuel, 2003. "Panel Data Econometrics," OUP Catalogue, Oxford University Press, number 9780199245291, Decembrie.
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    Cited by:

    1. Paola Morales‐Acevedo & Steven Ongena, 2020. "Fear, Anger, And Credit. On Bank Robberies And Loan Conditions," Economic Inquiry, Western Economic Association International, vol. 58(2), pages 921-952, April.

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    More about this item

    Keywords

    bank robbery; economics of crime; panel data analysis;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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