Intangible Costs
Definition
The non-market burden of crime, chiefly pain, suffering, fear and lost quality of life, which has no invoice but is typically the largest component of a full cost estimate.
Related terms
- Cost-of-Crime Estimation
- The economic exercise of converting a crime, or a class of crimes, into a single monetary figure that captures its burden on...
- Tangible Costs
- Costs of crime with a direct market price: medical treatment, replacing or repairing property, lost earnings during recovery, and the public money...
- Transfer Payment
- A payment, such as victim compensation or an insurance payout, that moves money from one party to another without destroying resources, so...
- Willingness-to-Pay Method
- A contingent valuation technique that asks survey respondents how much they would pay in taxes for a programme that reduces a given...
- International Crime Victims Survey (ICVS)
- A cross-national victimisation survey programme used to compare victimisation rates across countries using a common questionnaire.
- Unit Cost
- The estimated cost of a single incident of a given offence type, built by adding its tangible and intangible components, which is...
- Victimisation Survey
- A survey that asks a random population sample about crimes experienced in a reference period, regardless of whether those incidents were reported...
Explained in these topics
- Cost of Crime and Victim Surveys (Unit X)Components with no market price, such as pain, fear and lost quality of life, estimated through jury-award or willingness-to-pay research.
- Estimating the Cost of Crime