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Life Satisfaction and Individual Willingness to Pay for Crime Reduction

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  • Matthew Manning
  • Christopher M. Fleming
  • Christopher L. Ambrey

Abstract

Manning M., Fleming C. M. and Ambrey C. L. Life satisfaction and individual willingness to pay for crime reduction, Regional Studies. This paper uses the life satisfaction approach to estimate the intangible cost of crime in the state of New South Wales, Australia. Results show that: (1) property crime is negatively associated with life satisfaction; (2) the implicit willingness to pay to decrease property crime by one offence per 1000 residents in the local government area (LGA) in the previous 12 months is A$82 per household (A$32 per person); and (3) the difference in implicit willingness-to-pay estimates when using restricted windfall income compared with household income is considerable. These results are robust to a significant number of controls.

Suggested Citation

  • Matthew Manning & Christopher M. Fleming & Christopher L. Ambrey, 2016. "Life Satisfaction and Individual Willingness to Pay for Crime Reduction," Regional Studies, Taylor & Francis Journals, vol. 50(12), pages 2024-2039, December.
    • Handle: RePEc:taf:regstd:v:50:y:2016:i:12:p:2024-2039
    DOI: 10.1080/00343404.2015.1082030
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    References listed on IDEAS

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    1. Pischke, Jörn-Steffen, 2011. "Money and Happiness: Evidence from the Industry Wage Structure," IZA Discussion Papers 5705, Institute of Labor Economics (IZA).
    2. Pischke, Jorn-Steffen & Schwandt, Hannes, 2012. "A Cautionary Note on Using Industry Affiliation to Predict Income," CEPR Discussion Papers 9131, C.E.P.R. Discussion Papers.
    3. Powdthavee, Nattavudh & Lekfuangfu, Warn N. & Wooden, Mark, 2013. "The Marginal Income Effect of Education on Happiness: Estimating the Direct and Indirect Effects of Compulsory Schooling on Well-Being in Australia," IZA Discussion Papers 7365, Institute of Labor Economics (IZA).
    4. Stutzer, Alois & Frey, Bruno S., 2012. "Recent Developments in the Economics of Happiness: A Selective Overview," IZA Discussion Papers 7078, Institute of Labor Economics (IZA).
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    Cited by:

    1. Ferreira, Susana & Moro, Mirko & Welsch, Heinz, 2024. "Using Life Satisfaction and Happiness Data for Environmental Valuation: An Experienced Preference Approach," IZA Discussion Papers 16718, Institute of Labor Economics (IZA).
    2. Stutzer, Alois, 2020. "Happiness and public policy: a procedural perspective," Behavioural Public Policy, Cambridge University Press, vol. 4(2), pages 210-225, July.
    3. Kubiszewski, Ida & Zakariyya, Nabeeh & Costanza, Robert, 2018. "Objective and Subjective Indicators of Life Satisfaction in Australia: How Well Do People Perceive What Supports a Good Life?," Ecological Economics, Elsevier, vol. 154(C), pages 361-372.
    4. Georgia Perks & Shiko Maruyama, 2017. "The ‘Flock’ Phenomenon of the Sydney Lockout Laws: Dual Effects on Rental Prices," The Economic Record, The Economic Society of Australia, vol. 93(303), pages 517-532, December.
    5. Matthew Manning & Christopher M. Fleming & Hien-Thuc Pham & Gabriel T. W. Wong, 2022. "What Matters More, Perceived or Real Crime?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 163(3), pages 1221-1248, October.
    6. Marina Bravi & Marta Bottero & Federico Dell’Anna, 2024. "An Application of the Life Satisfaction Approach (LSA) to Value the Land Consumption and Ecosystem Services," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 2988-3013, March.
    7. Odermatt, Reto & Stutzer, Alois, 2017. "Subjective Well-Being and Public Policy," IZA Discussion Papers 11102, Institute of Labor Economics (IZA).
    8. David G. Blanchflower & Carol L. Graham, 2022. "The Mid-Life Dip in Well-Being: a Critique," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 161(1), pages 287-344, May.
    9. Yuan, Liang & Shin, Kongjoo & Managi, Shunsuke, 2018. "Subjective Well-being and Environmental Quality: The Impact of Air Pollution and Green Coverage in China," Ecological Economics, Elsevier, vol. 153(C), pages 124-138.

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