This paper argues that politicians are overprotected. The costs of political assassination differ systematically depending on whether a private or a public point of view is taken. A politician attributes a very high (if not infinite) cost to his or her survival. The social cost of political assassination is much smaller as politicians are replaceable. Conversely, the private cost of the security measures is low for politicians, its bulk – including time loss and inconvenience – is imposed on taxpayers and the general public. The extent of overprotection is larger in dictatorial than in democratic countries.
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"Crime and Punishment: An Economic Approach,"
in: Essays in the Economics of Crime and Punishment, pages 1-54
National Bureau of Economic Research, Inc.
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LSE Research Online Documents on Economics
6646, London School of Economics and Political Science, LSE Library.
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- Robert MacCulloch & Silvia Pezzini, 2002. "The Role of Freedom, Growth and Religion in the Taste for Revolution," STICERD - Development Economics Papers - From 2008 this series has been superseded by Economic Organisation and Public Policy Discussion Papers 36, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Robert MacCulloch & Silvia Pezzini, 2004. "The Role of Freedom, Growth and Religion in the Taste for Revolution," Law and Economics 0405002, EconWPA.
- Silvia Pezzini & Robert MacCulloch, 2003. "The role of freedom, growth and religion in the taste for revolution," Departmental Working Papers 2003-08, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
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- Howard Taylor, 1998. "Rationing crime: the political economy of criminal statistics since the 1850s," Economic History Review, Economic History Society, vol. 51(3), pages 569-590, 08.
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