Arbeitspapier
The Health-Wealth Trade-off during the COVID-19 Pandemic: Communication Matters
How do people balance health/wealth concerns during a pandemic? And, how does the communication of this trade-off affect individual preferences? We address these questions using a field experiment involving around 2000 students enrolled in a large university in Italy. We design four treatments where the trade-off is communicated using different combinations of a positive framing that focuses on protective strategies and a negative framing which refers to potential costs. We find that positive framing on the health side induces individuals to give greater relevance to the health dimension. The effect is sizeable and highly effective among many different audiences, especially females. Importantly, this triggers a higher level of intention to adhere to social distancing and precautionary behaviors. Moreover, irrespective of the framing, we find a large heterogeneity in students' preferences over the trade-off. Economics students and students who have directly experienced the economic impact of the pandemic are found to favor wealth-centered policies.
- Language
-
Englisch
- Bibliographic citation
-
Series: IZA Discussion Papers ; No. 13943
- Classification
-
Wirtschaft
Microeconomic Policy: Formulation, Implementation, and Evaluation
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Expectations; Speculations
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Crisis Management
Health: General
Demographic Economics: General
- Subject
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COVID-19
health
economic costs
trade-off
framing
- Event
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Geistige Schöpfung
- (who)
-
Carrieri, Vincenzo
De Paola, Maria
Gioia, Francesca
- Event
-
Veröffentlichung
- (who)
-
Institute of Labor Economics (IZA)
- (where)
-
Bonn
- (when)
-
2020
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Carrieri, Vincenzo
- De Paola, Maria
- Gioia, Francesca
- Institute of Labor Economics (IZA)
Time of origin
- 2020
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