Knowledge, Perceived Risk, and Precautionary Behaviours towards COVID-19: Implications on Health Crisis Policy

Phaik Nie Chin and Negin Vaghefi

MPRA Paper from University Library of Munich, Germany

Abstract: Purpose - This study examines knowledge, perceived risk, and precautionary behaviours among Malaysians during a global health crisis, which is the first health crisis experienced by most Malaysians. Method - A self-administered online survey questionnaire was sent across Malaysia, and A total of 686 usable data was collected. A contingent valuation using double-bounded dichotomous choice was adopted to estimate the willingness to pay (WTP). A multiple regression and four logit regressions were conducted to analyse the relationship among the variables. Findings - The study found that (1) females have higher COVID-19 knowledge and precautionary behaviours, (2) education level positively affects COVID-19 knowledge and risk perception, (3) age positively affects risk perception and precautionary behaviours, and (4) COVID-19 knowledge positively affects precautionary behaviours. In terms of willingness to get a vaccine, the study noticed that those with a higher COVID-19 knowledge, precautionary behaviours, and younger generation were more willing to get a vaccine. Based on the contingent valuation, the estimated WTP was US$ 57.50. Originality – This study serves as a guideline for future global health crisis in emerging countries including Malaysia. Implications - The study provides insights to the Malaysian government that the “nudge” policy should be continued by the Ministry of Health; and the vaccine cost that is accepted by Malaysians.

Keywords: COVID-19; risk perception; precautionary behaviours; vaccine; contingent valuation; willingness to pay (search for similar items in EconPapers)
JEL-codes: H1 H12 H41 I1 I18 (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-dcm and nep-sea
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