Victimisation, Well‐being and Compensation: Using Panel Data to Estimate the Costs of Violent Crime. (20th July 2017)

• Record Type: Journal Article
• Authors: Johnston, David W.; Shields, Michael A.; Suziedelyte, Agne
• Is Part Of: Economic journal. Volume 128:Number 611(2018)
• Page Start: 1545
• Page End: 1569
• Publication Date: 2017-07-20
• Subjects: Economics -- Periodicals; Économie politique -- Périodiques; 330.05
• DOI: 10.1111/ecoj.12478
• Languages: English
• ISSNs: 0013-0133

Abstract

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).