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Protest treatment and its impact on the WTP and WTA estimates for theft and robbery in the UK

José Ignacio Hernández, Alistair Hunt, Matteo Pazzona () and Felipe Vásquez Lavín
Authors registered in the RePEc Author Service: Felipe A. Vásquez Lavín and Jose Ignacio Hernández

Oxford Economic Papers, 2018, vol. 70, issue 2, 468-484

Abstract: We undertake a survey that estimates WTP and WTA measures for changes in the risk of being a victim of a robbery or theft in the UK. Respondents are less likely to protest when they are asked to reveal their WTP rather than WTA. Employing various protest-treatment techniques, we estimate the mean WTP for reducing current risks of theft and robbery by 50% to range between £38 and £220; for WTA, they are between £351 and £2,175. Higher values for robbery reflect people’s aversion to the violence implicit in this type of crime. The annual value of avoiding a statistical case of crime ranges between £7,011 for theft and £90,087 for robbery. WTP-WTA ratios range from 1:4.8 to 1:16.9 and are influenced by type of crime and elicitation method. In turn, these results support the economic sense of a pre-emptive crime policy that prevents, rather than compensates for, crime occurrence.

JEL-codes: D69 K49 Q51 (search for similar items in EconPapers)
Date: 2018
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