THE CORE OF THE STUDY IS A MODEL DEVELOPED TO EXPRESS THE CONCEPT OF EXPECTED UTILITY FROM PROPERTY CRIMES. IT IS ARGUED THAT COMPARISONS AMONG THE LEVELS OF UTILITY EXPECTED FROM DIFFERENT CRIMES INDUCE A PROPERTY CRIMINAL TO ENGAGE IN A SPECIFIC CRIME. LOGISTICS ANALYSIS IS USED TO DESCRIBE THE DECISION AMONG THREE TYPES OF PROPERTY CRIME (ROBBERY, BURGLARY, AND THEFT). CASES OF PROPERTY CRIME FROM 1940 TO 1970 FROM THE RECORDS OF DALLAS (TEX.) COUNTY COURTHOUSE AND THE DALLAS POLICE DEPARTMENT ARE USED TO TEST THE MODEL. A REGRESSION ANALYSIS TESTS THE HYPOTHESIS THAT THOSE PREFERRING LOW RISK WILL ENGAGE IN NONCONFRONTATION PROPERTY CRIMES (BURGLARLY OR THEFT) WHILE RISK-TAKERS WILL PREFER ROBBERY BECAUSE THE POSSIBLE REWARDS ARE HIGHER. SPEED OF APPREHENSION AND PUNISHMENT AS IT AFFECTS PERCEPTION OF RISK BY THE CRIMINAL IS DISCUSSED. THE DEVELOPMENT OF THE MODEL IS DESCRIBED IN DETAIL. TABLES GIVE THE RESULTS OF THE ANALYSIS AND A SUMMARY OF DATA USED IN THE STUDY. A MATHEMATICAL APPENDIX AND A BIBLIOGRAPHY ARE INCLUDED. (GLR)