Heterogeneous Actions, Beliefs, Constraints and Risk Tolerance During the COVID-19 Pandemic

During a pandemic, an individual's choices can determine outcomes not only for the individual but also for the entire community. Beliefs, constraints and preferences may shape behavior. This paper documents demographic differences in behaviors, beliefs, constraints and risk preferences across g...

Full description

Saved in:
Bibliographic Details
Published in:NBER Working Paper Series 2020-06
Main Authors: Fan, Ying, Orhun, A Yeşim, Turjeman, Dana
Format: Article
Language:English
Subjects:
Coronaviruses
COVID-19
Economic theory
Pandemics
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:During a pandemic, an individual's choices can determine outcomes not only for the individual but also for the entire community. Beliefs, constraints and preferences may shape behavior. This paper documents demographic differences in behaviors, beliefs, constraints and risk preferences across gender, income and political affiliation lines during the new coronavirus disease (COVID-19) pandemic. Our main analyses are based on data from an original nationally representative survey covering 5,500 adult respondents in the U.S. We find substantial gaps in behaviors and beliefs across gender, income and partisanship lines; in constraints across income levels; and in risk tolerance among men and women. Based on location data from a large sample of smartphones, we also document significant differences in mobility across demographics, which are consistent with our findings based on the survey data.
ISSN:0898-2937
DOI:10.3386/w27211