Risk Attitude and Air Pollution: Evidence From Chess

Tinbergen Institute Discussion Paper 2020-027/VIII

26 Pages Posted: 18 Jun 2020

See all articles by Joris Klingen

Joris Klingen

VU University Amsterdam

Jos N. van Ommeren

Vrije Universiteit Amsterdam, School of Business and Economics; Tinbergen Institute

Date Written: May 20, 2020

Abstract

Medical research suggests that particulate matter (PM) increases stress hormones, therefore increasing the feeling of stress, which has been hypothesized to induce individuals to take less risk. To examine this, we study whether PM increases the probability of drawing in chess games using information from the Dutch club competition. We provide evidence of a reasonably strong effect: A 10μg increase in PM10 (33.6% of mean concentration) leads to a 5.8% increase in draws. Our results demonstrate that air pollution causes individuals to take less risk.

Keywords: air pollution, particulate matter, cognitive ability, risk taking

JEL Classification: Q53, D81, I18

Suggested Citation

Klingen, Joris and van Ommeren, Jos N., Risk Attitude and Air Pollution: Evidence From Chess (May 20, 2020). Tinbergen Institute Discussion Paper 2020-027/VIII, Available at SSRN: https://ssrn.com/abstract=3609237 or http://dx.doi.org/10.2139/ssrn.3609237

Joris Klingen (Contact Author)

VU University Amsterdam ( email )

De Boelelaan 1105
Amsterdam, ND North Holland 1081 HV
Netherlands

Jos N. Van Ommeren

Vrije Universiteit Amsterdam, School of Business and Economics ( email )

De Boelelaan 1105
Amsterdam, 1081HV
Netherlands

Tinbergen Institute ( email )

Gustav Mahlerplein 117
Amsterdam, 1082 MS
Netherlands

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