The Costs of Urban Property Crime
估计了伦敦地区记录的住宅财产犯罪对房价的影响，发现刑事损害类犯罪显著降低房价，而入室盗窃无显著影响，并解释原因为刑事损害引发社区不安和衰退信号。
This paper estimates the impact of recorded domestic property crime on property prices in the London area. Crimes in the Criminal Damage category have a significant negative impact on prices. A one-tenth standard deviation decrease in the local density of criminal damage adds 1% to the price of an average Inner London property. Burglaries have no measurable impact on prices, even after allowing for the potential dependence of burglary rates on unobserved property characteristics. One explanation we offer here is that vandalism, graffiti and other forms of criminal damage motivate fear of crime in the community and may be taken as signals or symptoms of community instability and neighbourhood deterioration in general. Copyright 2004 Royal Economic Society.