{"title":"On the stability of risk and time preferences amid the COVID-19 pandemic.","authors":"Andreas C Drichoutis, Rodolfo M Nayga","doi":"10.1007/s10683-021-09727-6","DOIUrl":null,"url":null,"abstract":"<p><p>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.</p><p><strong>Supplementary information: </strong>The online version contains supplementary material available at 10.1007/s10683-021-09727-6.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"25 3","pages":"759-794"},"PeriodicalIF":1.7000,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8360830/pdf/","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Experimental Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1007/s10683-021-09727-6","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2021/8/13 0:00:00","PubModel":"Epub","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
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.
期刊介绍:
Experimental methods are uniquely suited to the study of many phenomena that have been difficult to observe directly in naturally occurring economic contexts. For example, the ability to induce preferences and control information structures makes it possible to isolate the effects of alternate economic structures, policies, and market institutions.Experimental Economics is an international journal that serves the growing group of economists around the world who use experimental methods. The journal invites high-quality papers in any area of experimental research in economics and related fields (i.e. accounting, finance, political science, and the psychology of decision making). State-of-the-art theoretical work and econometric work that is motivated by experimental data is also encouraged. The journal will also consider articles with a primary focus on methodology or replication of controversial findings. We welcome experiments conducted in either the laboratory or in the field. The relevant data can be decisions or non-choice data such as physiological measurements. However, we only consider studies that do not employ deception of participants and in which participants are incentivized. Experimental Economics is structured to promote experimental economics by bringing together innovative research that meets professional standards of experimental method, but without editorial bias towards specific orientations. All papers will be reviewed through the standard, anonymous-referee procedure and all accepted manuscripts will be subject to the approval of two editors. Authors must submit the instructions that participants in their study received at the time of submission of their manuscript. Authors are expected to submit separate data appendices which will be attached to the journal''s web page upon publication. Officially cited as: Exp Econ