Estimates of the Impact of Crime Risk on Property Values from Megan's Laws | Zendy

Leigh Linden | Zendy; Jonah E. Rockoff | Zendy

AI Assistant Blog Pricing

Home ZAIA Blog

Open Access

Estimates of the Impact of Crime Risk on Property Values from Megan's Laws

Author(s) -

Leigh Linden,

Jonah E. Rockoff

Publication year - 2008

Publication title -

american economic review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 16.936

H-Index - 297

eISSN - 1944-7981

pISSN - 0002-8282

DOI - 10.1257/aer.98.3.1103

Subject(s) - economics , property value , property crime , property (philosophy) , actuarial science , violent crime , criminology , law , demographic economics , sociology , political science , finance , real estate , philosophy , epistemology

We estimate the willingness to pay for reductions in crime risk using the location and move-in dates of sex offenders. We find significant effects of sex offenders' locations that are geographically localized. House prices within 0.1 miles of a sex offender fall by 4 percent on average. We then use this finding to estimate the costs to victims of sexual offenses, and find costs of over $1 million per victim--far greater than previous estimates. However, we cannot reject the alternative hypotheses that individuals overestimate risks posed by offenders or that living near an offender poses significant costs exclusive of crime risk.

The content you want is available to Zendy users.

Already have an account? Click here to sign in.

Having issues? You can contact us here

Accelerating Research