The Benefits of Reducing Gun Violence: Evidence from Contingent-Valuation Survey Data

Jens Ludwig and Philip J Cook

No 7166, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: D8 J17 (search for similar items in EconPapers)
Date: 1999-06
Note: EH
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Published as Ludwig, Jens and Philip J. Cook. "The Benefits Of Reducing Gun Violence: Evidence From Contingent-Valuation Survey Data," Journal of Risk and Uncertainty, 2001, v22(3,May), 207-226.

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Journal Article: The Benefits of Reducing Gun Violence: Evidence from Contingent-Valuation Survey Data (2001)
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