[quote]
With unique access to a set of data from the British Bankers' Association, today's Significance paper presents an economic model of the bank heist, balancing the robber's efforts against his gains or losses and concluding that it is often a poorly paid career path.
The average proceeds from a bank robbery in the UK are £20,331, with one third of robberies yielding nothing at all. The average takings per person per successful raid are a modest £12,706.60, equivalent to less than six months' average wage in the UK. In the USA the average raid yields considerably less at $4,330. If a robber carries out multiple raids to boost his sub-average income, probability says that after four raids he will be inside for some time and unable to earn at all.
The authors, leading economists from the Universities of Sussex and Surrey, highlight factors influencing the success of bank raids. These included the number involved in the raid (labour input), and whether firearms were displayed (capital input). The presence of firearms increased the rewards across all bank raids to an average return per person of £10,300.50. There was a clear connection between the number of raiders and total takings - the bigger the gang, the greater the success, with every extra gang member raising the take on average by £9,033.20. Even so, with extra gang members to share the proceeds, the haul per person decreases.
Deterrent factors working against the raiders such as bank security measures, activated alarms, and the number of bank staff and customers present were also examined for their effectiveness. Of these, fast-rising security screens, which are present in only 12% of UK banks and in even fewer banks in the USA, were most significant, reducing the probability of a successful raid by one third. Even so, the financial losses to banks through raids are reasonably low compared to the cost of installing additional fast-rising screens, which might explain their low prevalence. The authors acknowledge that bank robberies involve other costs (such as social and psychological ones) and that these may increase the social gain available from such measures. They also note that additional data would allow valuable follow-up research.
"Although bank robberies will take place for a number of 'impulse-related' reasons, our evidence suggests that the takings they generate appear to be consistent with economic theory," said Professor Rickman of the University of Surrey. "This is useful information if we are thinking about how such activity may be combatted in the future."[/quote]
[url]http://phys.org/news/2012-06-banks-crime-doesnt-econometrics.html[/url]
With great rewards comes an 80% risk.
I doubt anyone who resorts to bank raids to make ends meet actually cares about this, though.
"Mathematical Proof that (Bank Robbery) Crime Doesn't Pay" would be a more fitting title, seeing how only bank raids were discussed in the article.
$250 - n = -ℝ
where n = (money that could've been gained by legitimate work)
???
IT'S TRUE, WHO WOULD'VE THOUGHT!
Just need to rob Fenway Park once.
Wow it's almost like people with no money turn to robberies out of desperation or something.
[QUOTE=Kendra;36302626][B]ℝ[/B]
[/QUOTE]
what the fuck is that
[QUOTE=MightyMax;36303274]what the fuck is that[/QUOTE]
Real number?
ℝ all numbers from (-∞ , ∞)
Sometimes crime does pay. Like those guys who tunneled to an ATM.
[QUOTE=Don Knotts;36303419]Sometimes crime does pay. Like those guys who tunneled to an ATM.[/QUOTE]
Or buying lots of small ~$1 shares, artificially inflating their price through email spam and selling them. This one has among the lowest risk to reward ratios. I don't suggest doing it though, it's better to earn your money in a legitimate way.
that's only for bank robbers, there are tons of better and safer ways of stealing money
[QUOTE=wanksta11;36304994]that's only for bank robbers, there are tons of better and safer ways of stealing money[/QUOTE]
Which probably pay even less.
Robbing a bank I think can be agreed upon as the "biggest paying" crime, and that's been shown to not be worth it now. So anything else is definitely not worth it.
Damn, Payday the Heist lied to me? Goddammit, I was about to knock off the First World Bank :c
Really? Because I sell drugs and my paycheck is pretty fat.
...
this isnt 'mathematical proof' its statistical evidence lol
maybe you should stop posting so many pointless articles eh shian
[QUOTE=Bobie;36305752]this isnt 'mathematical proof' its statistical evidence lol
maybe you should stop posting so many pointless articles eh shian[/QUOTE]
Statistics isn't math?
No, it's banana.
Crime dosen't pay? Tell that to the polititians...
Ya, banks aren't a good idea. The real money is in drugs and paintings.
[QUOTE=Emperor Scorpious II;36307232]Statistics isn't math?[/QUOTE]
i'm not debating whether or not this is math you idiot, but the usage of the term 'mathematical proof' would imply that math has been used to [i]prove[/i] a theory, whereas this is not a static theory. this is a correlation drawn from statistical evidence that can change at any time in the future, and is no way set in stone.
[QUOTE=Bobie;36312142]i'm not debating whether or not this is math you idiot, but the usage of the term 'mathematical proof' would imply that math has been used to [i]prove[/i] a theory, whereas this is not a static theory. this is a correlation drawn from statistical evidence that can change at any time in the future, and is no way set in stone.[/QUOTE]
jee whiz, would you look at that
Did they factor in the Bankers doing the robbing at all, since, you know, how they had to be bailed out and all that
[quote]The average takings per person per successful raid are a modest £12,706.60, equivalent to less than six months' average wage in the UK.[/quote]
Estimating that they spend between a month and a week planning it, and assuming they are successful in the heist and perform 1 heist a month they make much more.
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