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On the stability of risk and time preferences amid the COVID-19 pandemic.


ABSTRACT: We elicited incentivized measures of risk and time preferences from a sample of undergraduate students in Athens, Greece, in waves that preceded and overlapped with the COVID-19 pandemic. We exploited the timing of several events that occurred in the course of the pandemic (e.g., first occurrence of cases and deaths, curfew, relaxation of curfew etc.) and estimated structural parameters for various theories of risk and time preferences comparing these with pre-pandemic estimates. We find no effect between the different waves or other key events of the pandemic, despite the fact that we have about 1000 responses across all waves. Overall, our subjects exhibit intertemporal stability of risk and time preferences despite the significant effect of the COVID-19 pandemic on public health and the global economy.

Supplementary information

The online version contains supplementary material available at 10.1007/s10683-021-09727-6.

SUBMITTER: Drichoutis AC 

PROVIDER: S-EPMC8360830 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature

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On the stability of risk and time preferences amid the COVID-19 pandemic.

Drichoutis Andreas C AC   Nayga Rodolfo M RM  

Experimental economics 20210813 3


We elicited incentivized measures of risk and time preferences from a sample of undergraduate students in Athens, Greece, in waves that preceded and overlapped with the COVID-19 pandemic. We exploited the timing of several events that occurred in the course of the pandemic (e.g., first occurrence of cases and deaths, curfew, relaxation of curfew etc.) and estimated structural parameters for various theories of risk and time preferences comparing these with pre-pandemic estimates. We find no effe  ...[more]

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