The Value of Connections : Evidence from the Italian-American Mafia ∗

@inproceedings{Mastrobuoni2013TheVO,
  title={The Value of Connections : Evidence from the Italian-American Mafia ∗},
  author={Giovanni Mastrobuoni},
  year={2013}
}
Using declassified Federal Bureau of Narcotics records on 800 US Mafia members active in the 1950s and 1960s, and on their connections within the Cosa Nostra network, I estimate network effects on gangsters’ economic status. Lacking information on criminal proceeds, I measure economic status exploiting detailed information about their place of residence. Housing values are reconstructed using current deflated transactions recorded on Zillow.com. I deal with the potential reverse causality… CONTINUE READING