A new study finds Americans are ready to invest $97.6 billion to reduce gun violence by 20%. This commitment emphasizes the public’s widespread concern and willingness to support robust prevention measures.
Gun violence manifests in several troubling forms, ranging from devastating mass shootings to the persistent threat of gang-related crime. Beyond the immediate and tragic loss of life, gun violence affects housing decisions, local economies and the broader sense of public safety. Now, a new study published in the journal Economic Sciences indicates that Americans are prepared to make a significant financial commitment to curbing this menace.
Conducted by Philip J. Cook and Marc Jeuland of Duke’s Sanford School of Public Policy and Jens Ludwig of the University of Chicago’s Harris School of Public Policy, the research shows that Americans are willing to invest nearly $100 billion to reduce gun violence by 20%. This finding reflects a widespread desire for more robust interventions.
Public Concern
Gun violence impacts daily life far beyond the immediate crime scenes.
Although 48% of survey respondents felt their community was not at risk, over half expressed concern or uncertainty about gun violence being a serious issue in their locality.
Notably, 43% believed it somewhat likely they would fall victim to gun violence within the next five years, influencing their long-term decisions, including where to live.
“Understanding the full costs of gun violence is difficult because this problem affects people in many ways. For example, perceptions of safety influence decisions people make daily and over the long term, like which places they regularly frequent or visit, as well as where they choose to live,” Jeuland said in a news release. “And then, the fear of gun violence imposes direct financial costs on people in the form of investments in security systems or the costs of treatment for injuries. But it also imposes non-financial costs, such as the feeling of insecurity many people feel in their lives, or the mental health burdens from losing close friends and family when deaths occur.”
Ludwig concurred, emphasizing the broader implications.
“The large amount the public is willing to pay here is consistent with the idea that gun violence is a social problem that sits upstream of so many other social problems,” he said in the news release.
Willingness to Pay for Preventive Measures
The research employed a contingent valuation method to gauge how much Americans would pay for measures reducing gun violence by 20%. Respondents were presented with a hypothetical state ballot measure to fund such programs through increased taxes.
“Their answers, pro and con, help establish that the concern about gun violence is widely shared. Most households are willing to pay a substantial amount to reduce this grave threat,” added Jeuland.
On average, households indicated they would be willing to contribute $744 annually, culminating in a national estimate of $97.6 billion.
Cook highlighted the tangible and intangible benefits of reducing gun violence, adding: “Some benefits of reducing gun violence are tangible, like rising property values and increased commercial activity in impacted communities. But others — like peace of mind, less shared trauma and an overall higher quality of life — are just as real.”
Costs of Gun Violence
This study broadens the understanding of the financial and societal burdens imposed by gun violence beyond traditional public health calculations, which often focus on medical bills and lost wages.
Instead, it accounts for the fear, community disruption and daily anxiety that many Americans endure.
“A COI (cost-of-illness) estimate from 2022 put the total cost of gun violence at about half of what we found. That method, based on actual victimization, shows the costs falling overwhelmingly on young Black males,” Cook added. ”But our study finds that Americans across demographics experience gun violence as a national problem — and they’re willing to pay to fix it.”
Policy Implications
The findings offer policymakers a clear economic justification for investing in gun violence prevention.
“The results of this study provide valuable information on the benefits that would result from reducing gun violence in the U.S. This can be used alongside information on the costs and effectiveness of different gun violence prevention policies to make the case for such interventions,” Jeuland concluded.
Amid the ongoing national dialogue about gun violence, this study delivers a pivotal message: Americans value solutions to gun violence and are willing to make financial sacrifices to achieve safer communities.