Attention to Global Warming
研究发现，当人们经历异常高温时，会向上修正对气候变化的信念，谷歌搜索量增加，且碳密集型公司股票在异常高温时表现较差，零售投资者会卖出这些股票。
Abstract We find that people revise their beliefs about climate change upward when experiencing warmer than usual temperatures in their area. Using international data, we show that attention to climate change, as proxied by Google search volume, increases when the local temperature is abnormally high. In financial markets, stocks of carbon-intensive firms underperform firms with low carbon emissions in abnormally warm weather. Retail investors (not institutional investors) sell carbon-intensive firms in such weather, and return patterns are unlikely to be driven by changes in fundamentals. Our study sheds light on peoples’ collective beliefs and actions about global warming.