Plausibly Exogenous [781] - Cloud (03/10/2022)
LHS Variable
Risk appetite
RHS Variable
Investor mood
Source of Exogenous Variation
Cloud cover as a proxy for mood because besides serving as powerful mood stimulus, changes in weather are plausibly exogenous and orthogonal to attributes of crowdfunding campaigns
- Shafi and Mohammadi (2020), “Too gloomy to invest: Weather-induced mood and crowdfunding”