Risk-Taking and Air Pollution: Evidence from Chess

Joris Klingen () and Jos Ommeren ()
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Joris Klingen: Vrije Universiteit Amsterdam
Jos Ommeren: Vrije Universiteit Amsterdam

Environmental & Resource Economics, 2022, vol. 81, issue 1, No 4, 73-93

Abstract: Abstract Medical research suggests that particulate matter (PM) increases stress hormones, therefore increasing the feeling of stress, which has been hypothesised to induce individuals to take less risk. To examine this, we study whether $$\hbox {PM}_{{10}}$$ PM 10 increases the probability of drawing in chess games using information from the Dutch club competition. We provide evidence of a reasonably strong effect: A $$10\mu \hbox {g}$$ 10 μ g increase in $$\hbox {PM}_{{10}}$$ PM 10 (33.6% of mean concentration) leads to a 5.6% increase in draws. We examine a range of explanations for these findings. Our preferred interpretation is that air pollution causes individuals to take less risk.

Keywords: Air pollution; Particulate matter; Decision-making; Risk-taking (search for similar items in EconPapers)
JEL-codes: D81 I18 J24 Q53 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s10640-021-00618-1

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