Extreme Temperatures, Adaptation Capacity, and Household Retail Consumption
利用美国家庭高频购物数据，发现极端温度减少商店访问次数但单次购买量增加，家庭通过库存管理抵消极寒影响，但极端高温持续抑制消费，私家车能缓解冲击而公共交通不能，表明弱势家庭承担主要成本。
While the large cost of extreme temperatures on production is well documented, relatively little is known about its impact on consumption despite its importance for welfare. Using high-frequency micro-shopping data from US households, we report three findings. First, deviating from mild temperatures negatively affects the number of store visits, but the impact on overall purchases is moderated by greater purchases per store visit, especially for extremely cold days. Second, households actively manage inventory over time, which nullifies the impact of extreme cold. However, extreme heat appears to have a persistent negative impact on consumption. Third, passenger cars substantially moderate the negative impact of extreme temperatures on consumption while rideshare services or public transit do not produce comparable moderating effects. These findings suggest that the economic cost of extreme temperatures on consumption is likely to be concentrated on disadvantaged households.