The Benefits of Reducing Gun Violence: Evidence from Contingent-Valuation Survey Data / Jens Ludwig, Philip J. Cook.

Format:

Book

Author/Creator:

Ludwig, Jens.

Contributor:

National Bureau of Economic Research.

Cook, Philip J.

Series:

Working Paper Series (National Bureau of Economic Research) no. w7166.

NBER working paper series no. w7166

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

The Benefits of Reducing Gun Violence

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1999.

Summary:

This paper presents the first attempt to estimate the benefits of reducing crime using the contingent-valuation (CV) method. We focus on gun violence, a crime of growing policy concern in America. Our data come from a national survey in which we ask respondents referendum-type questions that elicit their willingness-to-pay (WTP) to reduce gun violence by 30 percent. We estimate that the public's WTP to reduce gun violence by 30 percent equals $23.8 billion, or $750,000 per injury. Our estimate implies a statistical value of life ($4.05 to $6.25 million) that is quite consistent with those derived from other methods.

Notes:

Print version record

June 1999.