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Shoplifting, monitoring and price determination

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  • Yaniv, Gideon

Abstract

Shoplifting is a major crime problem costing American retailers more than $10 billion per year. Surprisingly, despite the evolvement of an extensive theoretical literature on the economics of some major economic crimes, shoplifting has failed to attract economists' attention. The present paper applies the economic toolbox to this problem, developing a principal-agent type model of shoplifting and shoplifting control. The model examines the customer's decision of whether to shoplift or not as well as the store's profit-maximizing price and monitoring intensity. The paper challenges the conventional wisdom that the observed rise in shoplifting calls for intensified monitoring and higher prices, showing that a rational response to increased shoplifting involves a reduction in both monitoring and prices.

Suggested Citation

  • Yaniv, Gideon, 2009. "Shoplifting, monitoring and price determination," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(4), pages 608-610, August.
    • Handle: RePEc:eee:soceco:v:38:y:2009:i:4:p:608-610
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    References listed on IDEAS

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    1. Cox, Dena & Cox, Anthony D & Moschis, George P, 1990. "When Consumer Behavior Goes Bad: An Investigation of Adolescent Shoplifting," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 17(2), pages 149-159, September.
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    Cited by:

    1. Stefan Buehler & Daniel Halbheer & Michael Lechner, 2017. "Payment Evasion," Journal of Industrial Economics, Wiley Blackwell, vol. 65(4), pages 804-832, December.
    2. T. De Bock & I. Vermeir & M. Pandelaere & P. Van Kenhove, 2010. "Exploring the Impact of Fear Appeals on the Prevention of Shoplifting," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 10/668, Ghent University, Faculty of Economics and Business Administration.
    3. In'acio B'o & Chiu Yu Ko, 2022. "Incentive-compatible public transportation fares with random inspection," Papers 2205.11858, arXiv.org.

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