Pollution risk and life insurance decisions : Microgeographic evidence from the United Kingdom
© 2024 The Authors. Risk Analysis published by Wiley Periodicals LLC on behalf of Society for Risk Analysis..
Recent research documents that exposure to air pollution can trigger various behavioral reactions. This article presents novel empirical evidence on the causal effect of pollution risk on life insurance decisions. We create a unique dataset by linking microgeographic air quality information to the confidential UK Wealth and Assets Survey. We identify an inverse N-shape relationship between pollution risk and life insurance adoption by exploiting the orthogonal variations in meteorological conditions. Over a given range above a threshold of exposure, rising pollution is associated with rising demand for life insurance, whereas at lower than the threshold levels of pollution, higher exposure risk reduces demand for insurance. Our findings indicate-for the first time-a nonlinear relationship between local pollution risk and life insurance demand.
| Medienart: |
E-Artikel |
|---|
| Erscheinungsjahr: |
2024 |
|---|---|
| Erschienen: |
2024 |
| Enthalten in: |
Zur Gesamtaufnahme - year:2024 |
|---|---|
| Enthalten in: |
Risk analysis : an official publication of the Society for Risk Analysis - (2024) vom: 08. Feb. |
| Sprache: |
Englisch |
|---|
| Beteiligte Personen: |
Adetutu, Morakinyo O [VerfasserIn] |
|---|
| Links: |
|---|
| Themen: |
Air pollution |
|---|
| Anmerkungen: |
Date Revised 08.02.2024 published: Print-Electronic Citation Status Publisher |
|---|
| doi: |
10.1111/risa.14279 |
|---|
| funding: |
|
|---|---|
| Förderinstitution / Projekttitel: |
|
| PPN (Katalog-ID): |
NLM368182460 |
|---|
| LEADER | 01000naa a22002652 4500 | ||
|---|---|---|---|
| 001 | NLM368182460 | ||
| 003 | DE-627 | ||
| 005 | 20240208232228.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 240208s2024 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1111/risa.14279 |2 doi | |
| 028 | 5 | 2 | |a pubmed24n1284.xml |
| 035 | |a (DE-627)NLM368182460 | ||
| 035 | |a (NLM)38329012 | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rakwb | ||
| 041 | |a eng | ||
| 100 | 1 | |a Adetutu, Morakinyo O |e verfasserin |4 aut | |
| 245 | 1 | 0 | |a Pollution risk and life insurance decisions |b Microgeographic evidence from the United Kingdom |
| 264 | 1 | |c 2024 | |
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a ƒaComputermedien |b c |2 rdamedia | ||
| 338 | |a ƒa Online-Ressource |b cr |2 rdacarrier | ||
| 500 | |a Date Revised 08.02.2024 | ||
| 500 | |a published: Print-Electronic | ||
| 500 | |a Citation Status Publisher | ||
| 520 | |a © 2024 The Authors. Risk Analysis published by Wiley Periodicals LLC on behalf of Society for Risk Analysis. | ||
| 520 | |a Recent research documents that exposure to air pollution can trigger various behavioral reactions. This article presents novel empirical evidence on the causal effect of pollution risk on life insurance decisions. We create a unique dataset by linking microgeographic air quality information to the confidential UK Wealth and Assets Survey. We identify an inverse N-shape relationship between pollution risk and life insurance adoption by exploiting the orthogonal variations in meteorological conditions. Over a given range above a threshold of exposure, rising pollution is associated with rising demand for life insurance, whereas at lower than the threshold levels of pollution, higher exposure risk reduces demand for insurance. Our findings indicate-for the first time-a nonlinear relationship between local pollution risk and life insurance demand | ||
| 650 | 4 | |a Journal Article | |
| 650 | 4 | |a N-shaped relationship | |
| 650 | 4 | |a United Kingdom | |
| 650 | 4 | |a air pollution | |
| 650 | 4 | |a life insurance | |
| 650 | 4 | |a modeled microgeographic data | |
| 700 | 1 | |a Odusanya, Kayode A |e verfasserin |4 aut | |
| 700 | 1 | |a Rasciute, Simona |e verfasserin |4 aut | |
| 700 | 1 | |a Stathopoulou, Eleni |e verfasserin |4 aut | |
| 773 | 0 | 8 | |i Enthalten in |t Risk analysis : an official publication of the Society for Risk Analysis |d 1990 |g (2024) vom: 08. Feb. |w (DE-627)NLM012965340 |x 1539-6924 |7 nnns |
| 773 | 1 | 8 | |g year:2024 |g day:08 |g month:02 |
| 856 | 4 | 0 | |u http://dx.doi.org/10.1111/risa.14279 |3 Volltext |
| 912 | |a GBV_USEFLAG_A | ||
| 912 | |a GBV_NLM | ||
| 951 | |a AR | ||
| 952 | |j 2024 |b 08 |c 02 | ||