Transfer Payment
Definition
A payment, such as victim compensation or an insurance payout, that moves money from one party to another without destroying resources, so economists exclude it from the net social cost of crime to avoid double counting.
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...
- Tangible Costs
- Costs of crime with a direct market price: medical treatment, replacing or repairing property, lost earnings during recovery, and the public money...
- 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)A payment, such as victim compensation or insurance, that moves money between parties without destroying a resource, and is excluded from the net cost of crime.
- Estimating the Cost of Crime