Protest treatment and its impact on the WTP and WTA estimates for theft and robbery in the UK
JosÃ© Ignacio HernÃ¡ndez,
Matteo Pazzona () and
Felipe VÃ¡squez LavÃn
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
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 Â£38 and Â£220; for WTA, they are between Â£351 and Â£2,175. Higher values for robbery reflect peopleâ€™s aversion to the violence implicit in this type of crime. The annual value of avoiding a statistical case of crime ranges between Â£7,011 for theft and Â£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)
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