Protest treatment and its impact on the WTP and WTA estimates for theft and robbery in the UK

Jose´ Ignacio Hernandez, Alistair Hunt, Matteo Pazzona, Felipe Vasquez Lavın

Research output: Contribution to journalArticle

Abstract

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 £38 and £220; for WTA, they are between £351 and £2,175. Higher values for robbery reflect people’s aversion to the violence implicit in this type of crime. The annual value of avoiding a statistical case of crime ranges between £7,011 for theft and £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.
LanguageEnglish
Pages468-484
JournalOxford Economic Papers
Volume70
Issue number2
Early online date8 Nov 2017
DOIs
StatusPublished - 1 Apr 2018

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Willingness-to-pay
Theft
Crime
Protest
Economics

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Protest treatment and its impact on the WTP and WTA estimates for theft and robbery in the UK. / Ignacio Hernandez, Jose´ ; Hunt, Alistair; Pazzona, Matteo; Vasquez Lavın, Felipe.

In: Oxford Economic Papers, Vol. 70, No. 2, 01.04.2018, p. 468-484.

Research output: Contribution to journalArticle

Ignacio Hernandez, Jose´ ; Hunt, Alistair ; Pazzona, Matteo ; Vasquez Lavın, Felipe. / Protest treatment and its impact on the WTP and WTA estimates for theft and robbery in the UK. In: Oxford Economic Papers. 2018 ; Vol. 70, No. 2. pp. 468-484.
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