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

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  • Ludwig, Jens
  • Cook, Philip J

Abstract

This article presents an estimate of 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 assaults by 30 percent equals $24.5 billion, or around $1.2 million per injury. Our estimate implies a statistical value of life that is quite consistent with those derived from other methods. Copyright 2001 by Kluwer Academic Publishers

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  • Ludwig, Jens & Cook, Philip J, 2001. "The Benefits of Reducing Gun Violence: Evidence from Contingent-Valuation Survey Data," Journal of Risk and Uncertainty, Springer, vol. 22(3), pages 207-226, May.
    • Handle: RePEc:kap:jrisku:v:22:y:2001:i:3:p:207-26
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    More about this item

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income

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