The Benefits of Reducing Gun Violence: Evidence from Contingent-Valuation Survey Data
AbstractThis 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 percent. We estimate that the public's WTP to reduce gun assaults by 30 percent 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. Copyright 2001 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Risk and Uncertainty.
Volume (Year): 22 (2001)
Issue (Month): 3 (May)
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Web page: http://www.springerlink.com/link.asp?id=100299
Other versions of this item:
- Jens Ludwig & Philip J. Cook, 1999. "The Benefits of Reducing Gun Violence: Evidence from Contingent-Valuation Survey Data," NBER Working Papers 7166, National Bureau of Economic Research, Inc.
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
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