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The Cost of Avoiding Crime: The Case of Bogota

Alejandro
Gaviria
Carlos Alberto
Medina-Durango
Leonardo Fabio
Morales-Zurita
Jairo
Nuñez-Méndez
Martes, 1 Abril 2008

We use hedonic price models to estimate the value households are willing to pay to avoid violent crime in the city of Bogotá. We find that households living in the highest socioeconomic level (stratum 6) pay up to 7.2% of their house values in order to pr