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Victimisation, Well†being and Compensation: Using Panel Data to Estimate the Costs of Violent Crime

Author

Listed:
  • David W. Johnston
  • Michael A. Shields
  • Agne Suziedelyte

Abstract

The costs of violent crime victimisation are often left to a tribunal, judge or jury to determine, which can lead to considerable subjectivity and variation. Using panel data, this article provides compensation estimates that help reduce the subjectivity of awards by providing a benchmark for the compensation required to offset direct and intangible costs. Individual†area fixed†effects models of well†being that allow for adaptation and the endogeneity of income suggest that, on average, A$88,000 is required to compensate a violent crime victim, with the amount being greater for females (A$102,000) than males (A$79,000).

Suggested Citation

  • David W. Johnston & Michael A. Shields & Agne Suziedelyte, 2018. "Victimisation, Well†being and Compensation: Using Panel Data to Estimate the Costs of Violent Crime," Economic Journal, Royal Economic Society, vol. 128(611), pages 1545-1569, June.
    • Handle: RePEc:wly:econjl:v:128:y:2018:i:611:p:1545-1569
    DOI: 10.1111/ecoj.12478
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    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • K30 - Law and Economics - - Other Substantive Areas of Law - - - General

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