Will gun buyback programs increase the quantity of guns?

Author: Mullin, W. P.
Publication: International Review of Law and Economics
Topics: Ownership Social Science Supply
Keywords: Buy-back Economic model Firearm Purchase Gun availability gun market
Bibliographic information +

Using economic models of consumer demand for guns, the author argues that current buyback programs actually increase the number of guns in circulation. While a one-time buyback program unknown to consumers at the time of purchase would temporarily reduce the quantity of guns, when consumers know at the time of purchase that they can resell their gun for a set price regardless of how much the gun is worth, they are more likely to buy guns, thereby increasing the number of guns. The author suggests that a more effective method for reducing the amount of guns would be to raise gun prices.