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).

Publication Type:	Article
Additional Information:	This is the pre-peer reviewed version of the following article: Johnston, D. W., Shields, M. A. and Suziedelyte, A. (2018), Victimisation, Well‐being and Compensation: Using Panel Data to Estimate the Costs of Violent Crime. Econ J, 128: 1545-1569, which has been published in final form at https://doi.org/10.1111/ecoj.12478. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions.
Subjects:	H Social Sciences > HV Social pathology. Social and public welfare
Departments:	School of Policy & Global Affairs > Economics

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