Economics at your fingertips  

The robustness of preferences during a crisis: The case of COVID-19

Paul Bokern, Jona Linde, Arno Riedl and Peter Werner
Additional contact information
Paul Bokern: RS: GSBE UM-BIC, Microeconomics & Public Economics, RS: GSBE other - not theme-related research
Jona Linde: RS: GSBE UM-BIC, Microeconomics & Public Economics
Arno Riedl: RS: GSBE UM-BIC, Microeconomics & Public Economics

No 12, Research Memorandum from Maastricht University, Graduate School of Business and Economics (GSBE)

Abstract: We investigate how preferences have been affected by exposure to the COVID-19 crisis. Our main contributions are: first, our participant pool consists of a large general population sample; second, we elicited a wide range of preferences (risk, time, ambiguity, and social preferences) using different incentivized experimental tasks; third, we elicited preferences before the onset of the crises and in three additional waves during the crises over a time period of more than a year, allowing us to investigate both short-term and medium-term preference responses; fourth, besides the measurement of causal effects of the crisis, we also analyze within each wave during the crisis, how differential exposure to the crisis in the health and financial domain affects preferences. We find that preferences remain remarkably stable during the crisis. Comparing them before the start and during the crisis, we do not observe robust differences in any of the elicited preferences. Moreover, individual differences in the exposure to the crisis at best show only weak effects in the financial domain.

JEL-codes: C90 D01 (search for similar items in EconPapers)
Date: 2023-08-31
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-hea
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
Working Paper: The Robustness of Preferences during a Crisis: The Case of Covid-19 (2023) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.26481/umagsb.2023012

Access Statistics for this paper

More papers in Research Memorandum from Maastricht University, Graduate School of Business and Economics (GSBE) Contact information at EDIRC.
Bibliographic data for series maintained by Andrea Willems () and Leonne Portz ().

Page updated 2023-11-29
Handle: RePEc:unm:umagsb:2023012