The benefits of reducing gun violence: Evidence from contingent-valuation survey data

This article presents an estimate of the benefits of reducing crime using t he contingent-valuation (CV) method. We focus on gun violence, a crime of g rowing policy concern in America. Our data come from a national survey in w hich we ask respondents referendum-type questions that elicit their willing ness-to-pay (WTP) to reduce gun violence by 30%. We estimate that the publi c's WTP to reduce gun assaults by 30% equals $24.5 billion, or around $1.2 million per injury. Our estimate implies a statistical value of life that i s quite consistent with those derived from other methods.