Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
•We conduct an econometric study on the effect of floods on happiness in Bulgaria.•Experiencing floods causes lasting reduction in subjective well-being.•The intensity of the flood seems to matter more than its timing.•Intangible or psychological damages of low-intensity floods can be substantial.•Material damages do not capture the entire impact of extreme events on happiness.