Risk Attitudes and Human Mobility during the COVID-19 Pandemic

Ho Fai Chan, Ahmed Skali, David Savage, David Stadelmann and Benno Torgler

Papers from arXiv.org

Abstract: Behavioral responses to pandemics are less shaped by actual mortality or hospitalization risks than they are by risk attitudes. We explore human mobility patterns as a measure of behavioral responses during the COVID-19 pandemic. Our results indicate that risk-taking attitude is a critical factor in predicting reduction in human mobility and increase social confinement around the globe. We find that the sharp decline in movement after the WHO (World Health Organization) declared COVID-19 to be a pandemic can be attributed to risk attitudes. Our results suggest that regions with risk-averse attitudes are more likely to adjust their behavioral activity in response to the declaration of a pandemic even before most official government lockdowns. Further understanding of the basis of responses to epidemics, e.g., precautionary behavior, will help improve the containment of the spread of the virus.

Date: 2020-06
New Economics Papers: this item is included in nep-hea, nep-mig and nep-rmg
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Working Paper: Risk Attitudes and Human Mobility During the COVID-19 Pandemic (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2006.06078

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