Risk Perceptions and Protective Behaviors: Evidence from COVID-19 Pandemic

M. Kate Bundorf, Jill DeMatteis, Grant Miller, Maria Polyakova, Jialu L. Streeter and Jonathan Wivagg

No 28741, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We analyze data from a survey we administered during the COVID-19 pandemic to investigate the relationship between people's subjective risk beliefs and their protective behaviors. We report three main findings. First, on average, people substantially overestimate the absolute level of risk associated with economic activity, but have correct signals about their relative risk. Second, people who believe that they face a higher risk of infection are more likely to report avoiding economic activities. Third, government mandates restricting economic behavior attenuate the relationship between subjective risk beliefs and protective behaviors.

JEL-codes: H0 I1 (search for similar items in EconPapers)
Date: 2021-04
New Economics Papers: this item is included in nep-rmg
Note: EH PE
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Citations: View citations in EconPapers (6)

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