CUHK Business School Research Looks at How Earthquake Experiences Affected People’s Spending Habits in China

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HONG KONG SAR – Media OutReach – 19 August 2021 – China has seen some of the most destructive earthquakes in history. For example, the devastating 2008 Earthquake in Sichuan province killed over 69,000 people, left up to 11 million people homeless and caused up to US$20 billion in property damage. The country sits atop seismically active areas, and it had 118 earthquakes in the past year. This setting provided the backdrop for a group of researchers to look at whether near-death experiences, such as major earthquakes, can influence people’s spending patterns. They found that those who experienced major earthquakes early in life are more likely to “live in the moment” after a traumatic experience.


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