Flooded Social Connections

Dimuthu Ratnadiwakara ()
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Dimuthu Ratnadiwakara: Louisiana State University, 2925 Business Education Complex North, Baton Rouge, 70803 USA

Quarterly Journal of Finance (QJF), 2021, vol. 11, issue 04, 1-15

Abstract: Does salient information on social media influence individuals’ economic decisions and beliefs? Using aggregated data from Facebook and a difference-in-differences strategy, I show that individuals who are socially connected to someone affected by Hurricane Harvey are more likely to purchase flood insurance policies after the event. This effect is stronger in areas at higher risk of flooding. Being socially connected to someone affected by Hurricane Harvey also influences individuals’ perceptions of global warming.

Keywords: Social networks; flood insurance; Hurricane Harvey; perceptions (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:wsi:qjfxxx:v:11:y:2021:i:04:n:s201013922150018x

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DOI: 10.1142/S201013922150018X

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