Risk, Time Preferences, Trustworthiness and COVID-19 Preventive Behavior: Evidence from France

Julien Bergeot and Florence Jusot
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Florence Jusot: Legos - Laboratoire d'Economie et de Gestion des Organisations de Santé - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres, IRDES - Institut de Recherche et Documentation en Economie de la Santé - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres, LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique

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Abstract: We analyze how far-sightedness and risk aversion as well as the perceived trustworthiness of others correlate with COVID-19-related protective behaviors in France. We leverage individual-level data from the corona survey of the Survey of HealthAging and Retirement in Europe linked with a paper questionnaire survey about preferences conducted in France just beforethe coronavirus outbreak. Our results suggest that far-sightedness and risk aversion are strong predictors of individuals'protective behavior. More far-sighted individuals are more likely to not visit their family members anymore, wear a mask,and keep their distance from others when outside, wash their hands more regularly and cover their cough. Risk aversionincreases the likelihood of not meeting more than 5 other people and not meeting with family members anymore. Concerningthe perceived trustworthiness, we find that a higher level of trust in others reduces compliance with the recommendationsabout meeting with 5 or more people and family gatherings. We interpret this result as a sign that individuals with trust inothers perceive a lower risk of being infected by friends and family members. Hence, they are more willing to take riskswhen they engage in social interactions when they perceive their relatives as trustworthy. The government should thereforeconsider individuals' heterogeneity in preferences and beliefs when implementing a strategy to encourage people to complywith its COVID-19 protective recommendations.

Keywords: Compliance; COVID-19; Trustworthiness; Preferences; Prevention (search for similar items in EconPapers)
Date: 2023
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Published in European Journal of Health Economics, 2023, 25

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04594640

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