| Abstract: | This paper reports on a new methodology to estimate the “cost of crime.” It is adapted from the contingent valuation method used in the environmental economics literature and is itself used to estimate the public's willingness to pay for crime control programs. In a nationally representative sample of 1,300 U.S. residents, we found that the typical household would be willing to pay between $100 and $150 per year for programs that reduced specific crimes by 10 percent in their communities. This willingness amounts, collectively, to approximately $25,000 per burglary, $70,000 per serious assault, $232,000 per armed |
