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« Education Costs and Opportunity Costs | Main | Oliver Williamson, co-Nobelist, 2009 »

October 13, 2009

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Advance Warning that Security Cameras Will Not be Operating
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Jeff H

That's bizarre, I can't imagine anything good would come of telling everyone when the security cameras will be shut down.

Fraser Summerfield

My opinion, this is smart. Here is why:

I have heard, and I may be wrong because I cannot cite anything here, but if survelance is publicized it may lead individuals to rely upon it for personal safety and/or the safety of their belongings. In the event that a loss is suffered and survalence was falsely advertised there may arise a situation where some form of expectations damages have occurred, because in the presence of expected survalence the individual took less percaution than they otherwise would have.

(disclaimer about poor ability to explain this in economics terms given time constraints)

i.e. if the students maximize some sort of utility function in a smooth fashion, which includes "safety" and consumption of other goods or leisure, and then a crime takes place but the security was false, the student was actually consuming an inefficient amount of "safety".
I am sure Posner could explain this properly, perhaps putting him in the running for next years nobel!

If you worked out cost beneft analysis, i bet expected losses from liability law suits exceed expected pety theft. Assuming this includes the social science centre (which is open after hours, but contains very little to steal (at least on the 4th floor).

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