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The Risks and Rewards of Criminal Activity: A Comprehensive Test of Criminal Deterrence

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Author Info
Viscusi, W Kip

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Abstract

Whereas previous analyses of criminal deterrence have focused on the effect of criminal enforcement on crime rates, this study analyzes the existence of compensating differentials for criminal pursuits. Analyzing the risk-rewards trade-off, this approach represents a more comprehensive test of the criminal deterrence hypothesis. The sample consisted of black inner-city youths who reported their participation, income, and self-assessed risks from crime. The risk premiums for the three principal adverse outcomes (arrest, conviction, and prison) constituted between one- half and two-thirds of all crime income on the average, providing strong support for the criminal deterrence hypothesis. Copyright 1986 by University of Chicago Press.

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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 4 (1986)
Issue (Month): 3 (July)
Pages: 317-40
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Handle: RePEc:ucp:jlabec:v:4:y:1986:i:3:p:317-40

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  1. Gathmann, Christina, 2004. "The Effects of Enforcement on Illegal Markets: Evidence from Migrant Smuggling along the Southwestern Border," IZA Discussion Papers 1004, Institute for the Study of Labor (IZA). [Downloadable!]
  2. Steven Raphael & RUDOLF WINTER-EBMER, 1998. "Identifying the Effect of Unemployment on Crime," University of California at San Diego, Economics Working Paper Series 1998-19, Department of Economics, UC San Diego. [Downloadable!]
    Other versions:
  3. Lance Lochner, 2003. "Individual Perceptions of the Criminal Justice System," NBER Working Papers 9474, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Hannes Spengler, 2006. "Eine panelökonometrische Überprüfung der ökonomischen Theorie der Kriminalität mit deutschen Bundesländerdaten," Discussion Papers of DIW Berlin 548, DIW Berlin, German Institute for Economic Research. [Downloadable!]
    Other versions:
  5. Lawrence Southwick, 2005. "Economies of scale and market power in policing," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 26(8), pages 461-473. [Downloadable!]
  6. Lance Lochner, 2001. "A Theoretical and Empirical Study of Individual Perceptions of the Criminal Justice System," RCER Working Papers 483, University of Rochester - Center for Economic Research (RCER). [Downloadable!]
  7. Langlais, Eric, 2009. "les criminels aiment-ils le risque ?
    [Are criminals risk-seeking individulas ?]
    ," MPRA Paper 14892, University Library of Munich, Germany. [Downloadable!]
  8. Erling Eide, 1997. "The Economics of Crime: Main Problems and Some Solutions," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 24, pages 65-77. [Downloadable!]
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