Pollution risk and life insurance decisions: Microgeographic evidence from the United Kingdom
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 c...
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| Veröffentlicht in: | Risk analysis 2024-08, Vol.44 (8), p.1907-1930 |
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| container_end_page | 1930 |
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| container_issue | 8 |
| container_start_page | 1907 |
| container_title | Risk analysis |
| container_volume | 44 |
| creator | Adetutu, Morakinyo O. Odusanya, Kayode A. Rasciute, Simona Stathopoulou, Eleni |
| description | 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. |
| doi_str_mv | 10.1111/risa.14279 |
| format | Article |
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| subjects | Air pollution Air Pollution - analysis Air quality Decision Making Decisions Demand Environmental Exposure Environmental risk Exposure Humans Insurance Insurance, Life Life insurance modeled microgeographic data N‐shaped relationship Pollution effects Pollution levels Risk Risk Assessment Shape effects United Kingdom |
| title | Pollution risk and life insurance decisions: Microgeographic evidence from the United Kingdom |
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