Purchase - $38.00

Underground Gun Markets

31 Pages Posted: 27 Nov 2007  

Philip J. Cook

affiliation not provided to SSRN

Jens Ludwig

Georgetown University - Public Policy Institute (GPPI); National Bureau of Economic Research (NBER); IZA Institute of Labor Economics

Sudhir Alladi Venkatesh

Columbia University - Department of Sociology

Anthony A. Braga

affiliation not provided to SSRN

Date Written: 0000

Abstract

This article provides an economic analysis of underground gun markets, drawing on interviews with gang members, gun dealers, professional thieves, prostitutes, police, public school security guards and teenagers in the city of Chicago, complemented by results from government surveys of recent arrestees in 22 cities, plus administrative data for suicides, homicides, robberies, arrests and confiscated crime guns. We find evidence that transactions costs are considerable in the underground gun market in Chicago, and to some extent in other cities as well. The most likely explanation is that the underground gun market is both illegal and thin relevant information about trading opportunities is scarce due to illegality, which makes search costly for market participants and leads to a market thickness effect on transaction costs.

Suggested Citation

Cook, Philip J. and Ludwig, Jens and Venkatesh, Sudhir Alladi and Braga, Anthony A., Underground Gun Markets (0000). The Economic Journal, Vol. 117, Issue 524, pp. F588-F618, November 2007. Available at SSRN: https://ssrn.com/abstract=1032369 or http://dx.doi.org/10.1111/j.1468-0297.2007.02098.x

Philip J. Cook (Contact Author)

affiliation not provided to SSRN

No Address Available

Jens Ludwig

Georgetown University - Public Policy Institute (GPPI) ( email )

3600 N Street, NW Suite 200
Washington, DC 20057
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Sudhir Venkatesh

Columbia University - Department of Sociology ( email )

3009 Broadway
New York, NY 10027
United States

Anthony A. Braga

affiliation not provided to SSRN

No Address Available

Paper statistics

Downloads
9
Abstract Views
931