The study argued that blacks would be less responsive than whites to punishment and labeling because they were already outsiders in a predominantly white society and that blacks had a lower stake in conformity than whites. Data were obtained from Mortality Detail File tapes at the University of Michigan and covered the 1977-1984 period. Three sets of daily homicide counts were created according to the degree of execution risk: homicides in the entire United States; homicides in States with a capital punishment law in effect; and homicides in States with a capital punishment law in effect and where at least one person had been sentenced to death during the study period. Data were based on homicide victims and not on homicide offenders. Analysis of U.S. data found that publicized executions had no effect on homicide for blacks. In contrast, publicized executions resulted in a significant decline in homicide for whites. Little publicized executions had no effect on homicide. Policy and research implications of the study findings are discussed, and further research to explore race-specific homicide indicators is recommended. 49 references and 2 tables