Contingent-Valuation Survey Data"
BY: JENS LUDWIG
Georgetown University
PHILIP J. COOK
Duke University
National Bureau of Economic Research (NBER)
Paper ID: NBER Working Paper No. 7166
Date: June 1999
Contact: JENS LUDWIG
Email: Mailto:ludwigj at gunet.georgetown.edu
Postal: Georgetown University
3600 N St, NW (Suite 200)
Washington, DC 20057 USA
Phone: (202)687 4997
Fax: (202)687 5544
Co-Auth: PHILIP J. COOK
Email: Mailto:cook at pps.duke.edu
Postal: Duke University
Durham, NC 27708 USA
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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.