New Evidence on the Monetary Value of Saving a High Risk Youth
Mark A. Cohen
Vanderbilt University - Owen Graduate School of Management; Vanderbilt University - Law School; Resources for the Future
Alex R. Piquero
University of Texas at Dallas - School of Economic, Political and Policy Sciences; Griffith University
Vanderbilt Law and Economics Research Paper No. 08-07
There is growing interest in crime prevention through early youth interventions; yet, the standard United States response to the crime problem, particularly among juveniles, has been to increase the use and resource allocation allotted toward punishment and incapacitation and away from prevention and treatment. At the same time, longitudinal studies of delinquency and crime have repeatedly documented a strong link between past and future behavior and have identified a small subset of offenders who commit a large share of criminal offenses. These findings suggest that if these offenders can be identified early and correctly and provided with prevention and treatment resources early in the life course, their criminal activity may be curtailed. While researchers have studied these offenders in great detail, little attention has been paid to the costs they exert on society. This paper provides estimates of the cost of crime imposed on society by high risk youth. Our approach follows and builds upon the early framework and basic methodology developed by Cohen (1998), by using new estimates of the costs of individual crimes, ones that are more comprehensive and that significantly increased the monetary cost per crime. We also use new estimates on the underlying offending rate for high risk juvenile offenders.
Number of Pages in PDF File: 59
Keywords: costs of crime, high risk youth, criminal careers, crime policy
JEL Classification: K42, J18, I21
Date posted: December 19, 2007 ; Last revised: November 19, 2012
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