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Losing Sleep at the Market: The Daylight Saving Anomaly

Losing Sleep at the Market: The Daylight Saving Anomaly By MARK J. KAMSTRA, LISA A. KRAMER, We have all struggled through the day after a poor night’s sleep, weighed down by weariness, fighting lethargy, and perhaps even facing despondency. Fortunately, few people suffer from acute sleeping disorders that, according to sleep researchers, can destroy motivation and cause deep depression and even death.1 Nevertheless, even relatively minor sleep imbalances have been shown to cause errors in judgment, anxiety, impatience, less efficient processing of information, and loss of attention. Indeed, it has been argued that an important thread connecting the nuclear accident at Chernobyl, the near meltdown at Three Mile Island, the massive oil spill from the Exxon Valdez, and the explosion of the space shuttle Challenger, is people making mistakes because of workshift changes and consequent imbalances of sleep.2 Equally tragic but less publicized consequences of sleeprelated errors have resulted from accidents, which each year “cost the United States over $56 billion, cause nearly 25,000 deaths and result in over 2.5 million disabling injuries.”3 Despite all these negative consequences of sleep problems, the modern hero is the person who seems to defy nature, filling every day with continuous, productive activity, and surviving on far less sleep than is http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Economic Review American Economic Association

Losing Sleep at the Market: The Daylight Saving Anomaly

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References (46)

Publisher
American Economic Association
Copyright
Copyright © 2000 by the American Economic Association
Subject
Shorter Papers
ISSN
0002-8282
DOI
10.1257/aer.90.4.1005
Publisher site
See Article on Publisher Site

Abstract

By MARK J. KAMSTRA, LISA A. KRAMER, We have all struggled through the day after a poor night’s sleep, weighed down by weariness, fighting lethargy, and perhaps even facing despondency. Fortunately, few people suffer from acute sleeping disorders that, according to sleep researchers, can destroy motivation and cause deep depression and even death.1 Nevertheless, even relatively minor sleep imbalances have been shown to cause errors in judgment, anxiety, impatience, less efficient processing of information, and loss of attention. Indeed, it has been argued that an important thread connecting the nuclear accident at Chernobyl, the near meltdown at Three Mile Island, the massive oil spill from the Exxon Valdez, and the explosion of the space shuttle Challenger, is people making mistakes because of workshift changes and consequent imbalances of sleep.2 Equally tragic but less publicized consequences of sleeprelated errors have resulted from accidents, which each year “cost the United States over $56 billion, cause nearly 25,000 deaths and result in over 2.5 million disabling injuries.”3 Despite all these negative consequences of sleep problems, the modern hero is the person who seems to defy nature, filling every day with continuous, productive activity, and surviving on far less sleep than is

Journal

American Economic ReviewAmerican Economic Association

Published: Sep 1, 2000

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