Valuing the intangible cost of violent crimes in Singapore

• Main Authors: Chua, Cui Xiang, Liu, Peiqian, Lee, Crystal Joyee, Suyanto, Devina Odilia
• Other Authors: School of Humanities and Social Sciences
• Format: Final Year Project
• Language: English
• Published: 2013
• Subjects: DRNTU::Social sciences
• Online Access: http://hdl.handle.net/10356/52091
• Institution: Nanyang Technological University

Our paper attempts to derive the costs associated with the intangible impacts of crime based on Singapore context, particularly on crimes against persons and violent property crime. All data inputs were collected by the means of Contingent Valuation Method (CVM) on Singapore Citizens or Singapore Permanent Resident (SPR), with iterative bidding as our measurement vehicle to assess respondents’ Willingness-to-Pay (WTP). Using past studies and benefit transfer, we presented the respondents with more realistic descriptions of the physical and psychological impacts of the crimes of varying severity. Respondents then were invited to answer questionnaires which put them in hypothetical situations whereby they could utilize a safety equipment to reduce the probability of occurrence of crimes. Three sets of questionnaires were prepared with different severity of injuries consisting ‘common assault’, ‘moderate wounding’, and ‘serious wounding’. Denominated in the Singapore Dollars, each set has a different start bid value of $10, $60 and $80 with the amount halved if initial bid was rejected, and doubled if initial bid was agreed upon. Subsequently, respondents were asked for their maximum WTP should both bid amounts were rejected. 600 interviews were conducted evenly across Singapore based on quota-sampling system, reflecting the true proportion of resident population age group. With exemption of 18 protest bids and 21 irrational bids, our analysis suggests that the costs of three officially classified (statistical) crimes are $41,197.10 for common assault (no injury), $264,344.30 for other (moderate) wounding, and $342,413.00 for serious wounding. These monetary values are essential as a reference in policies formulations to prevent or reduce the incidence of crimes against persons and violent property crimes in Singapore. This study can be useful and beneficial as a basis for any further research or study conducted in the future.