Heterogeneous Actions, Beliefs, Constraints and Risk Tolerance During the Covid-19 Pandemic

41 Pages Posted: 10 Jun 2020 Last revised: 8 May 2024

See all articles by Ying Fan

Ying Fan

University of Michigan

A. Yesim Orhun

University of Michigan, Stephen M. Ross School of Business

Dana Turjeman

Arison School of Business, Reichman University

Date Written: May 2020

Abstract

During a pandemic, an individual's choices can determine outcomes not only for the individual but also for the entire community. Beliefs, constraints and preferences may shape behavior. This paper documents demographic differences in behaviors, beliefs, constraints and risk preferences across gender, income and political affiliation lines during the new coronavirus disease (COVID-19) pandemic. Our main analyses are based on data from an original nationally representative survey covering 5,500 adult respondents in the U.S. We find substantial gaps in behaviors and beliefs across gender, income and partisanship lines; in constraints across income levels; and in risk tolerance among men and women. Based on location data from a large sample of smartphones, we also document significant differences in mobility across demographics, which are consistent with our findings based on the survey data.

Suggested Citation

Fan, Ying and Orhun, A. Yesim and Turjeman, Dana, Heterogeneous Actions, Beliefs, Constraints and Risk Tolerance During the Covid-19 Pandemic (May 2020). NBER Working Paper No. w27211, Available at SSRN: https://ssrn.com/abstract=3621796

Ying Fan (Contact Author)

University of Michigan ( email )

611 Tappan Street
Lorch Hall, Rm 308
Ann Arbor, MI 48109-1220
United States

HOME PAGE: http://www-personal.umich.edu/~yingfan/

A. Yesim Orhun

University of Michigan, Stephen M. Ross School of Business ( email )

701 Tappan Street
Ann Arbor, MI MI 48109
United States

Dana Turjeman

Arison School of Business, Reichman University ( email )

HOME PAGE: http://www.turji.com

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