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

Jens Ludwig · Philip J. Cook

120 citations0/0 files storedJournal of Risk and Uncertainty

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Economic and Environmental Valuation Decision-Making and Behavioral Economics Gun Ownership and Violence Research

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%. We estimate that the public's WTP to reduce gun assaults by 30% 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.

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1968Crime and Punishment: An Economic Approach 1989Using surveys to value public goods: the contingent valuation method 2014The Measurement of Environmental and Resource Values 1993Report of NOAA Panel on Contingent Valuation 1992Valuing public goods: The purchase of moral satisfaction 1994Contingent Valuation: Is Some Number Better than No Number?1991Statistical Efficiency of Double‐Bounded Dichotomous Choice Contingent Valuation 1994Valuing the Environment Through Contingent Valuation

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