Victimisation, Well‐Being and Compensation: Using Panel Data to Estimate the Costs of Violent Crime

25 Pages Posted: 5 Jun 2018

See all articles by David W. Johnston

David W. Johnston

Monash University

Michael A. Shields

University of Melbourne - Department of Economics; IZA Institute of Labor Economics

Agne Suziedelyte

City University London

Date Written: June 2018

Abstract

The costs of violent crime victimisation are often left to a tribunal, judge or jury to determine, which can lead to considerable subjectivity and variation. Using panel data, this article provides compensation estimates that help reduce the subjectivity of awards by providing a benchmark for the compensation required to offset direct and intangible costs. Individual‐area fixed‐effects models of well‐being that allow for adaptation and the endogeneity of income suggest that, on average, A$88,000 is required to compensate a violent crime victim, with the amount being greater for females (A$102,000) than males (A$79,000).

Suggested Citation

Johnston, David W. and Shields, Michael A. and Suziedelyte, Agne, Victimisation, Well‐Being and Compensation: Using Panel Data to Estimate the Costs of Violent Crime (June 2018). The Economic Journal, Vol. 128, Issue 611, pp. 1545-1569, 2018. Available at SSRN: https://ssrn.com/abstract=3190740 or http://dx.doi.org/10.1111/ecoj.12478

Michael A. Shields

University of Melbourne - Department of Economics ( email )

Victoria 3010, 3010
Australia
+61 3 8344 4656 (Phone)
+61 3 8344 6899 (Fax)

IZA Institute of Labor Economics

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

Agne Suziedelyte

City University London ( email )

Northampton Square
London, EC1V OHB
United Kingdom

HOME PAGE: http://https://sites.google.com/site/agnesuziedelyte/

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