Willingness to pay to escape COVID-19 related social restrictions

Tinna Laufey Ásgeirsdóttir and Hjördis Hardardóttir

Applied Economics Letters, 2024, vol. 31, issue 18, 1862-1873

Abstract: We estimate the willingness to pay to escape different bundles of social restrictions imposed by the authorities in Iceland during COVID-19 using contingent valuation methods. Average willingness to pay to escape a bundle of social restrictions for 1 month is USD 139, amounting to approximately 2% of monthly GDP per capita in Iceland. We also find a net preference for substantial entry restrictions at the country’s border.

Date: 2024
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DOI: 10.1080/13504851.2023.2208333

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