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Title: Aversion to Extreme Temperatures, Climate Change, and Quality of Life

Citation Type: Miscellaneous

Publication Year: 2010

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Abstract: This paper uses hedonic methods and variation in wages and housing costs to estimatehouseholds valuation of climate amenities. We find that, on the margin, households are willingto pay more to reduce extreme heat than to reduce extreme cold. Combining these estimates withbusiness as usual climate forecasts for the United States, we find welfare losses in most areasby 2100, with particularly large effects in California, southern states, and urban centers. Onaverage, the cost of hotter summers exceeds the gain from warmer winters by 2 to 3 percent ofincome per year. These results account for taste heterogeneity and sorting; moreover, they arenot substantially attenuated by allowing for migration.

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Authors: Graf, Walter; Wolff, Hendrik; Kellogg, Ryan; Albouy, David

Publisher: University of Michigan

Data Collections: IPUMS USA

Topics: Other, Poverty and Welfare

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