Risk preferences are typically assumed to be constant for an individual across the life cycle. In this paper we empirically assess if they are time varying. Specifically, we analyse whether health shocks influence individual risk aversion. We follow an innovative approach and use grip strength...

Some consumption opportunities are both indivisible and only valuable in particular tates of nature. The existence of such state-dependent indivisible consumption opportunities influences a person's risk attitudes. In general, people are not risk averse anymore even if utility from divisible...

The purpose of this study is to investigate the effect of a spouse's health shock on own risk attitudes. A spouse's health shock (i.e., the occurrence of a severe disease) can influence own expectations about the probability of falling ill. Moreover, an indisposition of the spouse, which may...

Non-electrified people in Africa, still more than 500 million today, have been using kerosene and candles for their lighting purposes for decades. The lighting quality of these sources is low and in particular kerosene usage is associated with harmful soot emissions. Alleviating this grievance...

More than 3 billion people use wood fuels for their daily cooking needs, with detrimental health implications related to smoke emissions. Global initiatives to disseminate clean cooking stoves emphasize technologies that are either expensive, such as electricity and gasifier stoves, or for which...

Smoke from cooking in the kitchen is one of the world's leading causes of premature child death, claiming the lives of 500,000 children under five annually. This study analyses the role of outdoor cooking and the prevalence of respiratory diseases among children under five years by means of...

Climate change poses several risks to the value of financial assets and financial stability. The study conducted in this paper focuses on the German banking sector and estimates its exposure to climate risks arising from a transition to a carbon-neutral economy. Our analysis identifies the...

A large proportion of local pollutants originating from the road transport sector is generated during the so-called cold-start phase of driving, that is, the first few minutes of driving after a car has stood inactive for several hours. Drawing on data from the German Mobility Panel (MOP), this...

Household air pollution from biomass cooking is the most significant environmental health risk in the Global South. Interventions to address this risk mostly promote less-polluting stoves and clean fuels, but their diffusion proves difficult. This paper assesses the potentially complementary...

In 2017, the German federal government passed the Railroad Noise Protection Act to reduce the noise emitted by freight trains. This paper evaluates the effects of this law on house prices by using regional variation comparing affected homes close to train tracks and homes in greater distance...