COVID-19 and economic preferences: Evidence from a panel of cab drivers

Fernando M. Aragon, Noelia Bernal, Mariano Bosch, Oswaldo Molina

Research output: Contribution to journalArticle in a journalpeer-review

Abstract

This paper studies the impact of the COVID-19 pandemic on risk and time preferences. Using a longitudinal dataset from a survey of cab drivers in Lima (Peru), we document a significant increase in risk tolerance and patience. The changes are heterogeneous and monotonic by age: older cohorts become more risk-taking while younger ones become more patient. Our findings suggest that the pandemic could have affected individuals’ behavior and socioeconomic outcomes via another channel, namely, changes in economic preferences.

Original languageEnglish
Article number102257
JournalJournal of Behavioral and Experimental Economics
Volume112
DOIs
StatePublished - Oct 2024

Bibliographical note

Publisher Copyright:
© 2024 The Authors

Keywords

  • COVID-19
  • Risk preferences
  • Time preferences

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