COVID-19 and economic preferences: Evidence from a panel of cab drivers

Fernando M. Aragon, Noelia Bernal, Mariano Bosch and Oswaldo Molina

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2024, vol. 112, issue C

Abstract: This paper studies the impact of the COVID-19 pandemic on risk and time preferences. Using a longitudinal dataset from a survey of cab drivers in Lima (Peru), we document a significant increase in risk tolerance and patience. The changes are heterogeneous and monotonic by age: older cohorts become more risk-taking while younger ones become more patient. Our findings suggest that the pandemic could have affected individuals’ behavior and socioeconomic outcomes via another channel, namely, changes in economic preferences.

Keywords: Risk preferences; Time preferences; COVID-19 (search for similar items in EconPapers)
JEL-codes: D01 D81 D91 I18 (search for similar items in EconPapers)
Date: 2024
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Working Paper: COVID-19 and economic preferences: evidence from a panel of cab drivers (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:112:y:2024:i:c:s2214804324000958

DOI: 10.1016/j.socec.2024.102257

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