Lives or Livelihoods? Perceived Trade-Offs and Policy Views

Sonja Settele and Cortnie Shupe

The Economic Journal, 2022, vol. 132, issue 643, 1150-1178

Abstract: We study the role of perceived trade-offs between human lives and economic benefits in shaping policy views. In an online experiment with a representative sample from the United States conducted during the early Covid-19 pandemic, we provide randomised information on the medium-run costs of restricting economic activity to mitigate infections. A one standard deviation lower perceived economic cost of lockdowns increases support by about twice as much as having a Covid at-risk condition, and by half as much as being a Democrat. Varying projected health benefits has a similar effect. Personal exposure to health risks reduces people’s responsiveness to cost-benefit considerations.

Date: 2022
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