Worrying about the stock market: Evidence from hospital admissions

OMI Seminar Series

 

Using individual patient records for every hospital in California from 1983-2011, we find a strong inverse link between daily stock returns and hospital admissions, particularly for psychological conditions such as anxiety, panic disorder, or major depression. The effect is nearly instantaneous for psychological conditions (within the same day), suggesting that anticipation over future consumption directly influences instantaneous utility.

 

 Joint work with Christopher A. Parsons

 

Location:
Speaker(s):
Date:
Tuesday, November 18, 2014 - 12:30
to 13:30