This paper begins by setting out the economic principles underpinning the willingness-to-pay approach to valuing benefits which do not have readily accessible market prices, and then considers the practicability of applying this approach to valuing reductions in those consequences of crime which are ‘intangible’. The paper will draw upon work commissioned by the Home Office (Dolan et al., 2003; 2005), as well as upon research undertaken in collaboration with a number of colleagues during the past ten years — in particular, Michael Jones-Lee, Judith Covey, Angela Robinson and Susan Chilton. However, the views expressed in this paper do not necessarily represent those held by these colleagues.
AtkinsonG.HealeyA.MouratoS.ShepherdJ. (1002). Valuing Reductions in Violent Crime: A Stated Preference Approach. Mimeo report for Home Office Research, Development and Statistics Directorate; UK.
2.
BatemanI. (2002) Economic Valuation with Stated Preference Techniques: A Manual. Edward Elgar; Cheltenham. REST OF AUTHORS PLEASE.
3.
BatemanI.MunroA. (2002). Non-cooperative Decision Making and Measures of Household Surplus. Mimeo, University of East Anglia.
4.
BeattieJ.CoveyJ.DolanP.HopkinsL.Jones-LeeM.LoomesG.PidgeonN.RobinsonA.SpencerA. (1998). The Contingent Valuation of Safety and the Safety of Contingent Valuation, Part 1: Caveat Investigator. Journal of Risk and Uncertainty, 17, 5–25.
5.
CarthyT.ChiltonS.CoveyJ.HopkinsL.Jones-LeeM.LoomesG.PidgeonN.SpencerA. (1999). The Contingent Valuation of Safety and the Safety of Contingent Valuation, Part 2: The CV/SG ‘Chained’ Approach. Journal of Risk and Uncertainty, 17, 187–213.
6.
ChiltonS.CoveyJ.Jones-LeeM.LoomesG.MetcalfH. (2004). Valuation of Health Benefits Associated with Reductions in Air Pollution. Report for Department of Environment, Food and Rural Affairs; UK.
7.
DolanP.LoomesG.PeasgoodT.TsuchiyaA. (2003). External Review of Techniques for Estimating the Intangible Victim Costs of Crime. Report for Home Office Research, Development and Statistics Directorate; UK.
8.
DolanP.LoomesG.PeasgoodT.TsuchiyaA. (2005). Estimating the Intangible Victim Costs of Violent Crime. British Journal of Criminology, 45, 958–976.
9.
GuriaJ.JonesW.Jones-LeeM.W.LeungJ.LoomesG.KeallM. (1999). The Values of Statistical Life and Prevention of Injuries. Draft ReportLand Transport Safety Authority; Wellington, New Zealand.
10.
TreasuryH.M. (2005). Managing Risks to the Public: Appraisal Guidance. H.M. Treasury; London.
11.
Jones-LeeM.LoomesG. (2001). Private Values and Public Policy. In Conflict and Tradeoffs in Decision Making (WeberE.BaronJ.LoomesG., eds) pp. 205–230. Cambridge University Press.
12.
LoewensteinG.FrederickS. (1997). Predicting Reactions to Environmental Change. In Psychological Perspectives on Ethics and the Environment (BazermanM. eds) New Lexington Press; San Francisco. REST OF EDS PLEASE.
13.
LoomesG. (2006). (How) Can We Value Health, Safety and the Environment?Forthcoming in Thinking and Reasoning. UP-TO-DATE REFERENCE PLEASE.
14.
QuigginJ. (1998). Individual and Household Willingness to Pay for Public Goods. American Journal of Agricultural Economics, 80, 58–63.
15.
StrandJ. (2002). Public Good Valuation and Intrafamily Allocation. Mimeo, University of Oslo; Norway.
