The determinants of recovery from the Black Saturday bushfire: demographic factors,behavioural characteristics and financial literacy |
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| Authors: | Ammar Asbi Vikash Ramiah Xi Yu Damien Wallace Nisreen Moosa Krishna Reddy |
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| Institution: | 1. School of Commerce, University of South Australia, Adelaide, SA, Australia;2. University of Wollongong Dubai, Dubai, United Arab Emirates;3. Toi Ohoami Institute of Technology, Rotorua, New Zealand |
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| Abstract: | We investigate the contribution of demographic factors, behavioural characteristics and financial literacy to recovery from the financial losses inflicted by the Black Saturday bushfire. Behavioural characteristics (such as overconfidence, self-serving and loss aversion biases) in conjunction with bushfire survivors’ knowledge of financial indicators are used to determine recovery time. Data are collected through in-depth interviews with bushfire survivors, academics and experts in natural disasters. The results show that demographic, behavioural and financial literacy factors have the potential to enhance the recovery process. |
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| Keywords: | Bushfire Black Saturday Behavioural finance Financial literacy Demographic factors |
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