Pollution risk and life insurance decisions: Microgeographic evidence from the United Kingdom.
N-shaped relationship
United Kingdom
air pollution
life insurance
modeled microgeographic data
Journal
Risk analysis : an official publication of the Society for Risk Analysis
ISSN: 1539-6924
Titre abrégé: Risk Anal
Pays: United States
ID NLM: 8109978
Informations de publication
Date de publication:
08 Feb 2024
08 Feb 2024
Historique:
revised:
17
11
2023
received:
07
03
2023
accepted:
18
01
2024
medline:
8
2
2024
pubmed:
8
2
2024
entrez:
8
2
2024
Statut:
aheadofprint
Résumé
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.
Types de publication
Journal Article
Langues
eng
Sous-ensembles de citation
IM
Informations de copyright
© 2024 The Authors. Risk Analysis published by Wiley Periodicals LLC on behalf of Society for Risk Analysis.
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