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

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

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.

Suggested Citation

  • M. Kate Bundorf & Jill DeMatteis & Grant Miller & Maria Polyakova & Jialu L. Streeter & Jonathan Wivagg, 2021. "Risk Perceptions and Protective Behaviors: Evidence from COVID-19 Pandemic," NBER Working Papers 28741, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:28741
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    Cited by:

    1. Shin KINOSHITA & Masayuki SATO & Takanori IDA, 2022. "Bayesian Probability Revision and Infection Prevention Behavior in Japan : A Quantitative Analysis of the First Wave of COVID-19," Discussion papers e-22-004, Graduate School of Economics , Kyoto University.
    2. Hiroyuki Okamuro & Yasushi Hara & Yunosuke Iwaki, 2022. "Impact of Consumer Awareness and Behavior on Business Exits in the Hospitality, Tourism, Entertainment, and Culture Industries under the COVID-19 Pandemic," Administrative Sciences, MDPI, vol. 12(4), pages 1-19, November.
    3. Masayuki SATO & Shin KINOSHITA & Takanori IDA, 2022. "Subjective Risk Valuation and Behavioral Change : Evidence from COVID-19 in the U.K. and Japan," Discussion papers e-22-011, Graduate School of Economics , Kyoto University.
    4. Bussolo, Maurizio & Sarma, Nayantara & Torre, Iván, 2023. "The links between COVID-19 vaccine acceptance and non-pharmaceutical interventions," Social Science & Medicine, Elsevier, vol. 320(C).

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    More about this item

    JEL classification:

    • H0 - Public Economics - - General
    • I1 - Health, Education, and Welfare - - Health

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