| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16266 |
| DP16266 The Impact of Climate Change on Risk Aversion and Mitigation Behavior: Evidence from Germany | |
| Alexandra Avdeenko | |
| 发表日期 | 2021-06-16 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper investigates whether the 2013 floods in Germany affected risk preferences and mitigation behavior, using a representative, longitudinal data set. Exploiting the circumstance that this weather phenomenon was unanticipated, we provide robust evidence that flood exposure had a depressing impact on individual willingness to take risks. The effect size corresponds to a 4.85 percent reduction from the pre-treatment mean, varies between men and women, and is detectable up to five years after the shock. We show that this change is mediated by changes in well-being. Moreover, we discuss whether these changes in risk aversion may eventually reduce the costly moral hazard problem in climate change mitigation policies. In particular, we document that selection on risk aversion leads to a higher uptake in life insurances in high-risk areas. |
| 主题 | Public Economics |
| 关键词 | Microeconomic behavior Risk aversion Life insurance Natural disasters |
| URL | https://cepr.org/publications/dp16266 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545231 |
| 推荐引用方式 GB/T 7714 | Alexandra Avdeenko. DP16266 The Impact of Climate Change on Risk Aversion and Mitigation Behavior: Evidence from Germany. 2021. |
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