TY  - JOUR
AU  - Shavell,Steven
TI  - Individual Precautions to Prevent Theft: Private Versus Socially OptimalBehavior
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3560
PY  - 1990
Y2  - December 1990
UR  - http://www.nber.org/papers/w3560
L1  - http://www.nber.org/papers/w3560.pdf
N1  - Author contact info:
Steven Shavell
Harvard Law School
1575 Massachusetts Avenue
Hauser Hall 508
Cambridge, MA  02138
Tel: 617/495-3668
Fax: 617/496-2256
E-Mail: shavell@law.harvard.edu
AB  - A model is examined in which individuals take precautions that reduce the amount stolen if thieves enter their homes; and the amount of theft is influenced by the level of individuals' precautions. It is emphasized that the motive of individuals acting alone to take precautions may include the diversion of theft to others but does not take into account general deterrence. For this and other reasons, the level of precautions exercised by individuals acting alone may differ from their collectively optimal level and also from the socially optimal level (which reflects effort devoted to theft).
ER  -