Killing in the Stock Market: Evidence From Organ Donations

Journal of Behavioral and Experimental Finance

36 Pages Posted: 21 Nov 2020 Last revised: 25 Aug 2021

See all articles by Spencer Barnes

Spencer Barnes

The University of Texas at El Paso

Date Written: October 3, 2020

Abstract

Daily individual patient records for every organ transplant capable hospital in the United States from 1987 to 2018 indicate a negative relationship between stock market returns and deaths. Stress related deaths, such as heart attacks and strokes, are the most pronounced around stock market movements. Market shifts also alter the availability of organ transplants creating life altering consequences for organ wait list patients. A geographic effect exists within states as well. An interrupted time series specification mitigates some endogeneity concerns. The findings imply that wealth shocks alter current utility even at the extremes emphasizing the spillover effects of finance.

Keywords: stock returns, organ donor deaths, financial spillovers

JEL Classification: D91, G12, G41, I12

Suggested Citation

Barnes, Spencer, Killing in the Stock Market: Evidence From Organ Donations (October 3, 2020). Journal of Behavioral and Experimental Finance, Available at SSRN: https://ssrn.com/abstract=3704523 or http://dx.doi.org/10.2139/ssrn.3704523

Spencer Barnes (Contact Author)

The University of Texas at El Paso ( email )

500 West University Avenue
El Paso, TX 79968
United States

HOME PAGE: http://sites.google.com/view/spencer-barnes

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
97
Abstract Views
667
Rank
402,936
PlumX Metrics