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BEGIN:VEVENT
UID:07b3678a3db38226dfabe29e20aaf58d
CATEGORIES:Seminars
CREATED:20150105T163042
SUMMARY:Mirko Draca - University of Warwick
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>The Changing Returns to Crime: How 
 Do Criminals Respond to Changes in Goods Prices?</strong></p><p style="text
 -align: justify;">Abstract:</p><p style="text-align: justify;">Economic mod
 els of crime argue that changing economic incentives can alter participatio
 n of individuals in criminal activities. We study what happens when the pri
 ces of goods change, arguing that this can alter individuals’ expected retu
 rns from crime, as criminals may switch between stealing less and more expe
 nsive goods as relative prices change. We use detailed monthly data on burg
 laries, thefts and robberies in London from the Metropolitan Police Service
  between January 2002 and December 2012, where the key data feature we expl
 oit is that we know what was stolen in the reported incidents. We link this
  to detailed product price data and estimate a significant positive crime e
 lasticity with respect to prices from panel data models that relate changes
  in stolen goods to changes in their prices. We also develop empirical mode
 ls that relate changes in stolen goods to changes in the price of that good
  and also to the prices of other goods and estimate significant cross-price
  elasticities which show that price shifts can cause potential criminals to
  substitute away from goods with a lower price (and associated lower return
 ) to those with a higher price (and higher associated return).</p>
DTSTAMP:20260405T123644Z
DTSTART:20140424T173000Z
DTEND:20140424T190000Z
SEQUENCE:0
TRANSP:OPAQUE
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