AN ECONOMIC ANALYSIS APPROACH IS USED TO DETERMINE THE EFFECTS OF AREA OF RESIDENCE, CRIME RATE IN AREA, INCOME OF AREA, EDUCATION, RATES OF HOME OWNERSHIP, POLICE SERVICE LEVELS, AND PERCEPTIONS OF POLICE SERVICE LEVELS ON DECISION TO PROVIDE PRIVATE PROTECTION FROM LOSS BY CRIME. PRIVATE PROTECTION IS DEFINED AS POSSESSION OF A GUN IN THE HOUSE, OWNERSHIP OF A GUARD DOG, OR EXTRA INSURANCE. IT WAS FOUND THAT THE SINGLE MOST IMPORTANT PREDICTOR OF GUN OWNERSHIP WAS INCOME; PERCEPTION OF POLICE EFFECTIVENESS WAS NEXT. INCOME WAS THE SINGLE MOST IMPORTANT PREDICTOR OF OWNERSHIP OF INSURANCE. SUBJECTIVE PERCEPTIONS OF POLICE, FEAR OF CRIME, AND A FEELING OF POLITICAL POWERLESSNESS WERE THE MOST IMPORTANT FACTORS BEHIND GUARD DOG OWNERSHIP. THOSE LEAST ABLE TO AFFORD CRIME LOSS ARE ALSO LEAST ABLE TO PROVIDE PRIVATE PROTECTION. FOUR POSSIBLE PUBLIC POLICIES ARE DISCUSSED IN LIGHT OF THE THEORIES OF HOBBS AND LOCKE, WHICH ESTABLISH THE PRIMACY OF THE PROVISION OF PERSONAL SECURITY AS A PUBLIC GOOD WHICH SHOULD BE PROVIDED BY THE GOVERNMENT. RESEARCH SUGGESTIONS ARE MADE FOR FURTHER EXAMINATION OF THE CHOICE TO PROVIDE PERSONAL SECURITY PRIVATELY. EACH CHAPTER CONTAINS REFERENCES. A MASTER BIBLIOGRAPHY IS APPENDED. (GLR)