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Soo Hong Chew, Wei Huang, Xun Li (李汛) Does haze cloud decision making? A natural laboratory experiment
時間:2021-05-19    點擊數:

Abstract

The adverse impact of haze on health and its association with a range of economic outcomes have received increasing attention in the literature. A natural laboratory experiment involving more than 600 subjects enables a first attempt at investigating the causal effect of haze, proxied by particulate matter of up to 2.5 microns in diameter (PM2.5) on decision making. This study was conducted in Beijing in October 2012 over five days with highly varying levels of PM2.5, which only became commonly known in China in 2013. We observed several effects associated with an increase in haze. In terms of individual decision making, we found increases in risk aversion and ambiguity aversion over gains. In terms of other-regarding behavior, subjects became less prosocial, giving less in a dictator game, contributing less in a public goods game, and reciprocating less in a sequential prisoners’ dilemma. Our results underpin several reported findings in the literature linking short-term variations in air quality to real-world economic variables, including stock market performance, worker productivity, movie attendance and revenue, criminal activities, and subjective wellbeing.

內容提要

本研究首次通過自然-實驗室實驗研究了霧霾對行為決策的影響。2012年10月600多名實驗對象在北京參加了這場實驗。實驗為期5天,前三天和后兩天PM2.5指數差異非常大,且霧霾這一事物在2013年才被人們廣泛知曉。數據分析結果表明,霧霾越嚴重,人們的風險厭惡和模糊厭惡越強;人們的親社會性變弱,在獨裁者博弈、公共品博弈、連續的囚徒困境中給出更少。這些發現支持了一系列文獻的發現,包括空氣污染對股市表現、工人生產率、電影上座率、收入、犯罪活動以及主觀幸福感的影響。


論文鏈接:https://doi.org/10.1016/j.chieco.2021.101608


本文在線發表于Journal of Economic Behavior & Organization2021年第182卷。該期刊為經濟與管理學院A-類獎勵期刊,作者按姓氏字母排序。


 
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