Hotte, Louis; Valognes, Fabrice; van Ypersele, Tanguy - C.E.P.R. Discussion Papers - 2003
We propose a market-for-offenses model of property crime, which explicitly accounts for protection expenditures among … heterogeneous individuals. The crime equilibrium is modeled as a free-access equilibrium in which the match between criminals and … victims equates the average returns to crime. We borrow from the literature on the economics of conflicts in order to define …