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Catastrophes and time preference: Evidence from the Indian Ocean Earthquake

Callen, Michael (2015) Catastrophes and time preference: Evidence from the Indian Ocean Earthquake. Journal of Economic Behavior and Organization, 118. pp. 199-214. ISSN 0167-2681

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Identification Number: 10.1016/j.jebo.2015.02.019

Abstract

We provide evidence suggesting that exposure to the Indian Ocean Earthquake tsunami increased patience in a sample of Sri Lankan wage workers. We develop a framework to characterize the various channels through which disaster exposure could affect measures of patience. Drawing on this framework, we show that a battery of empirical tests support the argument that the increase in measured patience reflects a change in time preference and not selective exposure to the event, migration related to the tsunami, or other changes in the economic environment which affect experimental patience measures. The results have implications for policies aimed at disaster recovery and for the literature linking life events to economic preferences.

Item Type: Article
Official URL: https://www.journals.elsevier.com/journal-of-econo...
Additional Information: © 2015 Elsevier B.V.
Divisions: Economics
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
G Geography. Anthropology. Recreation > GB Physical geography
G Geography. Anthropology. Recreation > GE Environmental Sciences
JEL classification: D - Microeconomics > D9 - Intertemporal Choice and Growth > D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q54 - Climate; Natural Disasters
Date Deposited: 17 Dec 2019 10:30
Last Modified: 20 Jan 2020 07:11
URI: http://eprints.lse.ac.uk/id/eprint/102928

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