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Climate Amenities, Climate Change, and American Quality of Life

David Albouy (), Walter Graf, Ryan Kellogg and Hendrik Wolff ()

No 18925, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We present a hedonic framework to estimate U.S. households' preferences over local climates, using detailed weather and 2000 Census data. We find that Americans favor an average daily temperature of 65 degrees Fahrenheit, will pay more on the margin to avoid excess heat than cold, and are not substantially more averse to extremes than to temperatures that are merely uncomfortable. These preferences vary by location due to sorting or adaptation. Changes in climate amenities under business-as- usual predictions imply annual welfare losses of 1 to 3 percent of income by 2100, holding technology and preferences constant.

JEL-codes: H49 I39 Q54 R10 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene and nep-env
Date: 2013-03
Note: EEE IO PE
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Published as David Albouy & Walter Graf & Ryan Kellogg & Hendrik Wolff, 2016. "Climate Amenities, Climate Change, and American Quality of Life," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 3(1), pages 205 - 246.

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Journal Article: Climate Amenities, Climate Change, and American Quality of Life (2016) Downloads
Working Paper: Climate Amenities, Climate Change, and American Quality of Life (2013) Downloads
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