resulting in sleepless nights, withdrawal from social activities, psychological counseling, or even long-term therapy.
Chuck Stuart collected several hundred thousand dollars in life insurance. The insurance companies incurred administrative expenses associated with paying out this money and ultimately attempting to retrieve it after the full story became known.
A massive police investigation followed the murder after Chuck Stuart reported that a black gunman in a jogging suit had attacked their car at a busy intersection. Aside from the cost of employing police officers and other related expenses, it was reported that as many as 150 black men were stopped and frisked every day. Each of those men likely suffered from fear and deprivation of freedom. Other black men who were not stopped by police also suffered from fear under the threat that they too would be detained. Some commuters who normally drove through the area took longer detours or otherwise avoided the neighborhood because of the perceived increase in the risk of victimization. This may have hurt local businesses who otherwise benefited from sales to these commuters. Others who lived in or near the neighborhood might also have taken extra precautions such as staying home at night or buying security systems. Even more subtle and difficult to measure in this particular case is the increased racial tension precipitated by media coverage and apparently illegal police tactics of searching potential suspects.
The police ultimately arrested William Bennett, who was identified in a police lineup by Chuck Stuart. Although a formal indictment was never made (because Stuart's brother went to the police with information implicating Chuck Stuart as the murderer), William Bennett also was a victim of this case, as was his family. Had he been tried or falsely convicted of murder, he would have endured additional costs such as loss of freedom. Further, the government would have incurred the cost of incarceration itself. Had Chuck Stuart (who ultimately committed suicide) lived to be charged with the murders, there would have been additional criminal justice-related costs.
As difficult as it is, the task of enumerating the consequences of violent behavior is considerably easier than attempting to quantify (and monetize) the magnitude of these consequences. Although some costs (such as direct medical expenses) are relatively easy to estimate, others are virtually impossible (such as deprivation of freedom). In between these two extremes, there is a growing economics literature that attempts to place monetary values on pain, suffering, injuries, and death. This paper brings together