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Economic preferences and compliance in the social stress test of the Corona crisis

Stephan Müller and Holger A. Rau

No 391, Center for European, Governance and Economic Development Research Discussion Papers from University of Goettingen, Department of Economics

Abstract: We test in a survey the impact of economic preferences on compliance and perception during the Corona pandemic. Results show that economic preferences crucially impact citizens' compliance to policies fighting the crisis. Risk tolerance negatively a↵ects citizens' avoidance of crowds, whereas patience helps to do so and to stay home. Present-biased subjects engage in panic buying. Risk tolerance is negatively related with the Corona threat and trust positively resonates with positive media perception. Exploiting data from before the crisis allows us to infer causality and to deduce valuable insights for crisis management by identifying target groups or regions for the allocation of scare medical or surveillance resources.

Keywords: Compliance; Covid-19; Experiment; Preferences; Social Responsibility (search for similar items in EconPapers)
JEL-codes: C91 D81 H12 H41 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-cbe
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