Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

Please note that all times are shown in the time zone of the conference. The current conference time is: 28th May 2024, 09:51:22pm EDT

 
 
Session Overview
Session
Track W3-3: ESG in Financial Intermediation
Time:
Wednesday, 22/May/2024:
10:30am - 11:15am

Session Chair: Jawad M. Addoum, Cornell University
Discussant: Daniel Weagley, Georgia Tech
Location: Room 1212


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Presentations

Money to Burn: Wildfire Insurance via Social Networks

Anthony Cookson2, Emily Gallagher2, Philip Mulder1

1University of Wisconsin - Madison; 2University of Colorado - Boulder

Person-to-person charity has grown substantially in recent years, yet little is known about who benefits from it. This paper uses micro data on crowdfunding campaigns after a major wildfire to ask whether donors give according to the comparative need of beneficiaries. Linking to personal financial data and holding losses fixed, we find that beneficiaries with incomes above $150,000 receive 28% more support than beneficiaries with income below $75,000 and are more likely to have a campaign in the first place. We document that high-income beneficiaries possess several network advantages when soliciting crowdfunding. However, a networks mechanism does not fully explain why donors who give to multiple campaigns tend to give larger amounts to higher-income beneficiaries. These findings suggest that crowdfunded private charity may exacerbate income inequalities in the recovery process.


Cookson-Money to Burn-633.pdf


 
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