Journal
ECONOMIC JOURNAL
Volume 128, Issue 611, Pages 1545-1569Publisher
OXFORD UNIV PRESS
DOI: 10.1111/ecoj.12478
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Funding
- Australian Research Council
- Australian Government Department of Social Services (DSS)
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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).
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