M. Kate Bundorf, Jill DeMatteis, Grant Miller, Maria Polyakova, Jialu L. Streeter, Jonathan Wivagg
{"title":"Risk Perceptions and Private Protective Behaviors: Evidence from COVID-19 Pandemic","authors":"M. Kate Bundorf, Jill DeMatteis, Grant Miller, Maria Polyakova, Jialu L. Streeter, Jonathan Wivagg","doi":"10.1162/rest_a_01309","DOIUrl":null,"url":null,"abstract":"Abstract We analyze data from a survey we administered during the COVID19 pandemic to investigate the relationship between people's subjective beliefs about risks and their private protective behaviors. On average, people substantially overestimate the absolute level of risk associated with economic activity, but have directionally correct signals about their relative risk based on their demographic characteristics. Subjective risk beliefs are predictive of changes in economic activities independently of government policies. Government mandates restricting economic behavior, in turn, attenuate the relationship between subjective risk beliefs and protective behaviors.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"The Review of Economics and Statistics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1162/rest_a_01309","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
Abstract We analyze data from a survey we administered during the COVID19 pandemic to investigate the relationship between people's subjective beliefs about risks and their private protective behaviors. On average, people substantially overestimate the absolute level of risk associated with economic activity, but have directionally correct signals about their relative risk based on their demographic characteristics. Subjective risk beliefs are predictive of changes in economic activities independently of government policies. Government mandates restricting economic behavior, in turn, attenuate the relationship between subjective risk beliefs and protective behaviors.
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