The economic psychology of climate change: An experimental study on risk preferences and cooperation

Sven Gruener

No jq57n, OSF Preprints from Center for Open Science

Abstract: Climate change is one of the main challenges of our time. This paper examines how anticipated consequences of climate change influence individual and collective decision-making. Using a controlled information intervention experiment, we find that farmers in Germany – who are likely to be affected by climate change – increase their willingness to invest in risky assets but their cooperation behavior remains largely unaffected. In contrast to previous experiments on information provision, our results suggest that emotions cannot explain subjects’ behaviors. We argue that reminding of anticipated consequences of climate change can reactivate individuals’ memories that actions are necessary and, in turn, overcome inertia (JEL C91, C92, D01, D81, D91, H41, Q12, Q54).

Date: 2022-08-29
New Economics Papers: this item is included in nep-ene, nep-env and nep-exp
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:jq57n

DOI: 10.31219/osf.io/jq57n

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