Effects of lockdowns in shaping socioeconomic behaviors

Leo Bao (), Jingcun Cao (), Lata Gangadharan (), Difang Huang () and Chen Lin
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Leo Bao: a Department of Banking and Finance, Monash University , Melbourne, VIC 3145 , Australia
Jingcun Cao: b Faculty of Business and Economics, The University of Hong Kong , Hong Kong Special Administrative Region , China
Difang Huang: d Academy of Mathematics and Systems Science, Chinese Academy of Sciences , Beijing 100190 , China

Proceedings of the National Academy of Sciences, 2024, vol. 121, issue 43, e2405934121

Abstract:

Lockdowns were implemented to reduce the transmission of the COVID-19 virus. However, it is unclear how severely curtailed physical interaction shapes individual behaviors that are considered vital for socioeconomic development. In this exploratory study, we investigate the behavior of college students who experienced a strict campus-wide lockdown and those who did not. Employing a combination of experimental and survey methodologies, we elicit students’ behavioral variables, which are then integrated with administrative records from the university. We find that those exposed to the lockdown were more likely to trust others and be honest; however, their creativity was lower. Exposure to the lockdown was not found to significantly affect students’ trustworthiness, risk preferences, or competitiveness. A follow-up study reveals that the lower creativity among students may be attributed to reduced communication frequency with friends during the lockdown, mediating the lockdown’s impact. Conversely, the effects of the lockdown on trust and honesty may operate through a direct pathway, independent of changes in daily activities during the lockdown. Further analysis reveals a gender-dependent trend, with lockdowns exerting a more pronounced influence on male students than their female counterparts. These results underscore the consequences of lockdowns and advocate for enhanced support networks, emphasizing the importance of communicating with friends in similar circumstances.

Keywords: lockdown; individual behavior; economic experiment (search for similar items in EconPapers)
Date: 2024
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