| Publications [#266566] of Philip J. Cook
Journal Articles
- Cook, PJ; Ludwig, J, The social costs of gun ownership,
Journal of Public Economics, vol. 90 no. 1-2
(January, 2006),
pp. 379-391, Elsevier BV [doi]
(last updated on 2024/04/17)
Abstract: This paper provides new estimates of the effect of household gun prevalence on homicide rates, and infers the marginal external cost of handgun ownership. The estimates utilize a superior proxy for gun prevalence, the percentage of suicides committed with a gun, which we validate. Using county- and state-level panels for 20 years, we estimate the elasticity of homicide with respect to gun prevalence as between +0.1 and +0.3. All of the effect of gun prevalence is on gun homicide rates. Under certain reasonable assumptions, the average annual marginal social cost of household gun ownership is in the range $100 to $1800. © 2005 Elsevier B.V. All rights reserved.
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