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The Impact of an Epidemic: Experimental Evidence on Preference Stability from Wuhan

Shachat, J. and Walker, M.J. and Wei, L. (2021) 'The Impact of an Epidemic: Experimental Evidence on Preference Stability from Wuhan.', AEA Papers and Proceedings, 111 . pp. 302-306.

Abstract

We examine how the outbreak of the COVID-19 virus in the Hubei province of China impacted pro-social behavior and attitudes toward risk and uncertainty. The study repeatedly applies a panel of financially incentivized individual and strategic decision tasks via the WeChat social media platform to a population of preregistered Wuhan University students. We find that the initial outbreak coupled with the lock-down of Wuhan City led to an uptick in altruism, trust, and ambiguity aversion and a downtick in risk aversion. Over the remaining samples, we observed that all measurements return to baseline levels except for risk aversion.

Item Type:Article
Full text:(AM) Accepted Manuscript
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Status:Peer-reviewed
Publisher Web site:https://www.aeaweb.org/articles?id=10.1257/pandp.20211002&ArticleSearch%5Bwithin%5D%5Barticletitle%5D=1&ArticleSearch%5Bwithin%5D%5Barticleabstract%5D=1&ArticleSearch%5Bwithin%5D%5Bauthorlast%5D=1&ArticleSearch%5Bq%5D=The+Impact+of+an+Epidemic%3A+Experime
Publisher statement:Copyright © 2021 AEA
Date accepted:11 February 2021
Date deposited:26 August 2021
Date of first online publication:31 May 2021
Date first made open access:26 August 2021

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