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Are People Overconfident about Avoiding COVID-19?

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Abstract

More than six months into the COVID-19 outbreak, the number of new cases in the United States remains at an elevated level. One potential reason is a lack of preventative efforts either because people believe that the pandemic will be short-lived or because they underestimate their own chance of infection despite it being a public risk. To understand these possibilities, we elicit people’s perceptions of COVID-19 as a public health concern and a personal concern over the next three months to the following three years within the May administration of the Survey of Consumer Expectations (SCE). This post reports results from these survey questions.

Suggested Citation

  • Rawley Heimer & Haoyang Liu & Xiaohan Zhang, 2020. "Are People Overconfident about Avoiding COVID-19?," Liberty Street Economics 20201007, Federal Reserve Bank of New York.
  • Handle: RePEc:fip:fednls:88845
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    Cited by:

    1. Apergis, Nicholas, 2022. "Overconfidence and US stock market returns," Finance Research Letters, Elsevier, vol. 45(C).

    More about this item

    Keywords

    COVID-19; overconfidence;

    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior

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