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Air pollution and individual risk preference: Evidence from China

Author

Listed:
  • Liu, Kui
  • Meng, Chuyan
  • Yang, Shasha
  • Zhang, Guanglu

Abstract

Individual risk preference is a crucial determinant of decision-making under conditions of uncertainty. Risk preference is associated with internal individual characteristics as well as external environmental factors, such as air pollution. Combining a nationally representative longitudinal survey with Air Quality Index(AQI) and thermal inversion data, we find that for each unit increase in the AQI reduces risk preference by 8.9% of one standard deviation. Furthermore, heterogeneous analysis shows that men, youth, unmarried, employed, low-income level, low-education level and people with lower attention to the environment are more likely to be affected by air pollution. Research on mechanisms shows that air polluton may affect the risk preferences of individuals by affecting emotions and cognition.

Suggested Citation

  • Liu, Kui & Meng, Chuyan & Yang, Shasha & Zhang, Guanglu, 2024. "Air pollution and individual risk preference: Evidence from China," Energy Economics, Elsevier, vol. 136(C).
    • Handle: RePEc:eee:eneeco:v:136:y:2024:i:c:s0140988324004468
    DOI: 10.1016/j.eneco.2024.107738
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    Cited by:

    1. Zhaoting Xing & Jin Guo & Zizhen Zhang & Ting Xue & Ming Yang & Wenzong Wu, 2024. "Research on the Impact of Environmental Inequality on Labor Mobility—A Study Based on the China General Social Survey (CGSS)," Sustainability, MDPI, vol. 16(22), pages 1-18, November.

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