For Sept 18

COOK AND LWDWIG GUN VIOLENCE: THE REAL COSTS - Skip CHAPTERS 2, 3; some terms posted here just in case you are interested

CHAPTER 1

a tax on our standard of living

value of ex ante reductions in risk of injury

willingness to pay

value per statistical life

societal burden of gun violence

James Q. Wilson counterargument

regulation of firearms as consumer products

CHAPTER 2 (SKIP)

firearms death rate

YPLL-65 - years of potential life lost before age of 65

NOTE - figure 2.1 - fatalities at top, INJURIES at bottom

marginalizing the gun problem in the public depate

CHAPTER 3 (SKIP)

violence intensification

no replacement

replacement with reduced harm

full replacement with equal harm

instrumentality

difference in intent argument for observed difference in lethality

CHAPTER 4

gun violence cost

gun violence prevention benefits

investments required to achieve prevention benefit (cost of benefit)

willingness to pay (WTP)

Salk vaccine

oral Sabine vaccine

victimization costs

prevention costs

direct costs

indirect costs

cost of illness accounting / human capital method / output accounting

statistical death

'ransom' value of an identified life vs. public's WTP for a small increment in safety

methods to estimate WTP

earnings measure, marketplace prices, jury awards, willingness to pay for reduction in risk of gunshot injury

public savings rate

non-market services, positive and negative

costs of gun violence: prospective and subjective

costs of prevention

marginal utility - for background and example see: http://www.investopedia.com/terms/m/marginalutility.asp

CHAPTER 5

rtauma center / taxpayer link

annual incidence of medical costs resulting from gunshot injuries

annual costs of treating gunshot victims

net effect of gun violence on aggregate medical spending

counterfactual

CHAPTER 6

cost of illness approach

market productivity

non-market productivity

CHAPTER 7

gun costs on administering criminal justice

government preventative expenditures

private prevention costs

CHAPTER 8

contingent valuation method

man WTP per household to reduce gun assault violence 30% /

total societal WTP "