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König, A. ; Laxy, M.* ; Peters, A. ; Schneider, A.E. ; Wolf, K. ; Schwettmann, L. ; Wiesen, D.*

What is the relationship between risk attitudes and ambient temperature? Evidence from a large population-based cohort study.

Econ. Hum. Biol. 55:101436 (2024)

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Rising temperatures affect human behavior and risk-taking in several domains. However, it is not yet well understood just how ambient temperature shapes risk attitudes. Using data from the large population-based KORA-Fit study (Cooperative Health Research in the Region of Augsburg) of older people (N=2454), we identify a statistically significant, but very small, positive association between short-term ambient temperature changes and individuals' general willingness to take risks. Health-related risk attitudes, however, show no significant relationship with temperature. These findings support a domain-specific view of risk attitudes, with results remaining consistent for vulnerable individuals with the chronic conditions diabetes, hypertension, and asthma. Overall, our findings suggest that risk attitudes are somewhat stable towards changes in ambient temperature.

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Publication type Article: Journal article

Document type Scientific Article

Corresponding Author

Keywords Risk Attitudes ; Risk Domains ; Temperature ; Vulnerable Individuals; Stock-market Returns; Weather; Preferences; Heat; Time

ISSN (print) / ISBN 1570-677X

e-ISSN 1873-6130

Journal Economics and Human Biology

Quellenangaben Volume: 55, Article Number: 101436

Publisher Elsevier

Publishing Place Radarweg 29, 1043 Nx Amsterdam, Netherlands

Non-patent literature Publications

Reviewing status Peer reviewed

Institute(s) Institute of Health Economics and Health Care Management (IGM)
Institute of Epidemiology II (EPI2)

Grants Munich Center of Health Sciences (MC-Health), Ludwig-Maximilians-Universitat Munchen, as part of LMUinnovativ
State of Bavaria
Helmholtz Zentrum Munchen-German Research Center for Environmental Health - German Federal Ministry of Education and Research (BMBF)