Fear of COVID-19 changes economic preferences: evidence from a repeated cross-sectional MTurk survey

Abdelaziz Alsharawy, Sheryl Ball, Alec Smith () and Ross Spoon
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Abdelaziz Alsharawy: Princeton University
Alec Smith: Virginia Tech
Ross Spoon: Virginia Tech

Journal of the Economic Science Association, 2021, vol. 7, issue 2, No 2, 103-119

Abstract: Abstract The personal experience of events such as financial crises and natural disasters can alter economic preferences. We administered a repeated cross-sectional preference survey during the early stages of the COVID-19 outbreak, collecting three bi-weekly samples from participants recruited through Amazon Mechanical Turk. The survey elicits economic preferences, self-reported fear of the pandemic, and beliefs about economic and health consequences. Preferences varied over time and across regions, and self-reported fear of the pandemic explains this variation. These findings suggest caution about the generalizability of some types of experimental work during times of heightened fear.

Keywords: COVID-19; Economic preferences; Risk; Time preferences; Fear (search for similar items in EconPapers)
JEL-codes: D91 H59 I19 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (13)

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DOI: 10.1007/s40881-021-00111-x

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