Tangible Costs
Definition
Costs of crime with a direct market price: medical treatment, replacing or repairing property, lost earnings during recovery, and the public money spent on police, courts and corrections.
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...
- Intangible Costs
- The non-market burden of crime, chiefly pain, suffering, fear and lost quality of life, which has no invoice but is typically the...
- Transfer Payment
- A payment, such as victim compensation or an insurance payout, that moves money from one party to another without destroying resources, so...
- Unit Cost
- The estimated cost of a single incident of a given offence type, built by adding its tangible and intangible components, which is...
- 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...