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  • The economics of private security expenditure: The influence of perceptions of crime

    Author(s)
    Manning, Matthew
    Fleming, Christopher
    Griffith University Author(s)
    Fleming, Christopher
    Year published
    2017
    Metadata
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    Abstract
    Given that crime is a complex societal problem, the argument to embrace interdisciplinary scholarship seems an obvious one. The study of crime and its control, however, has largely remained multidisciplinary in nature. In this article, we provide an interdisciplinary, accessible economic model for understanding choices by individuals, as well as demonstrate the application of self-reported life satisfaction data to the issue of property crime. We find that: individuals' perceptions of crime in their local area are far greater than actual levels of crime; the gap between perceived and real crime is widening; and real crime ...
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    Given that crime is a complex societal problem, the argument to embrace interdisciplinary scholarship seems an obvious one. The study of crime and its control, however, has largely remained multidisciplinary in nature. In this article, we provide an interdisciplinary, accessible economic model for understanding choices by individuals, as well as demonstrate the application of self-reported life satisfaction data to the issue of property crime. We find that: individuals' perceptions of crime in their local area are far greater than actual levels of crime; the gap between perceived and real crime is widening; and real crime rates detract more from an individual's self-reported life satisfaction than perceived rates of crime. However, perceived rates of crime have an adverse impact on life satisfaction beyond those associated with real crime. Together, these results suggest that societal welfare could be significantly enhanced by reducing individual's perceptions of crime, irrespective of any changes in the real crime rate.
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    Journal Title
    Security Journal
    DOI
    https://doi.org/10.1057/sj.2014.24
    Subject
    Applied economics not elsewhere classified
    Criminology
    Causes and prevention of crime
    Publication URI
    http://hdl.handle.net/10072/63731
    Collection
    • Journal articles

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