Disaster experience and resident risk preference: Evidence from China household finance survey.
China is one of the countries hardest hit by disasters. Disaster shocks not only cause a large number of casualties and property damage but also have an impact on the risk preference of those who experience it. Current research has not reached a consensus conclusion on the impact of risk preferences...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Public Library of Science (PLoS)
2023-01-01
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| Series: | PLoS ONE |
| Online Access: | https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0295146&type=printable |
| _version_ | 1797392938473357312 |
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| author | Linan Guo Weiming He Jiaxue Wang |
| author_facet | Linan Guo Weiming He Jiaxue Wang |
| author_sort | Linan Guo |
| collection | DOAJ |
| description | China is one of the countries hardest hit by disasters. Disaster shocks not only cause a large number of casualties and property damage but also have an impact on the risk preference of those who experience it. Current research has not reached a consensus conclusion on the impact of risk preferences. This paper empirically analyzes the effects of natural and man-made disasters on residents' risk preference based on the data of the China Household Financial Survey (CHFS) in 2019. The results indicate that: (1) Both natural and man-made disasters can significantly lead to an increase in the risk aversion of residents, and man-made disasters have a greater impact. (2) Education background plays a negative moderating role in the impact of man-made disasters on residents' risk preference. (3) Natural disaster experiences have a greater impact on the risk preference of rural residents, while man-made disaster experiences have a greater impact on the risk preference of urban residents. Natural disaster experiences make rural residents more risk-averse, while man-made disaster experiences make urban residents more risk-averse. The results provide new evidence and perspective on the negative impact of disaster shocks on the social life of residents. |
| first_indexed | 2024-03-08T23:54:51Z |
| format | Article |
| id | doaj.art-8ab66a74aeee4732bc73d9ad9144ee94 |
| institution | Directory Open Access Journal |
| issn | 1932-6203 |
| language | English |
| last_indexed | 2024-03-08T23:54:51Z |
| publishDate | 2023-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj.art-8ab66a74aeee4732bc73d9ad9144ee942023-12-13T05:32:29ZengPublic Library of Science (PLoS)PLoS ONE1932-62032023-01-011811e029514610.1371/journal.pone.0295146Disaster experience and resident risk preference: Evidence from China household finance survey.Linan GuoWeiming HeJiaxue WangChina is one of the countries hardest hit by disasters. Disaster shocks not only cause a large number of casualties and property damage but also have an impact on the risk preference of those who experience it. Current research has not reached a consensus conclusion on the impact of risk preferences. This paper empirically analyzes the effects of natural and man-made disasters on residents' risk preference based on the data of the China Household Financial Survey (CHFS) in 2019. The results indicate that: (1) Both natural and man-made disasters can significantly lead to an increase in the risk aversion of residents, and man-made disasters have a greater impact. (2) Education background plays a negative moderating role in the impact of man-made disasters on residents' risk preference. (3) Natural disaster experiences have a greater impact on the risk preference of rural residents, while man-made disaster experiences have a greater impact on the risk preference of urban residents. Natural disaster experiences make rural residents more risk-averse, while man-made disaster experiences make urban residents more risk-averse. The results provide new evidence and perspective on the negative impact of disaster shocks on the social life of residents.https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0295146&type=printable |
| spellingShingle | Linan Guo Weiming He Jiaxue Wang Disaster experience and resident risk preference: Evidence from China household finance survey. PLoS ONE |
| title | Disaster experience and resident risk preference: Evidence from China household finance survey. |
| title_full | Disaster experience and resident risk preference: Evidence from China household finance survey. |
| title_fullStr | Disaster experience and resident risk preference: Evidence from China household finance survey. |
| title_full_unstemmed | Disaster experience and resident risk preference: Evidence from China household finance survey. |
| title_short | Disaster experience and resident risk preference: Evidence from China household finance survey. |
| title_sort | disaster experience and resident risk preference evidence from china household finance survey |
| url | https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0295146&type=printable |
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