Arbeitspapier
Consumer Sentiment during the Covid-19 Pandemic: The Role of Others' Beliefs
This paper investigates the direct and indirect effects of others’ beliefs on respondents’ own beliefs and consumer sentiment. Conducting consumer surveys with randomized control trials (RCTs) in Thailand and Vietnam during the COVID-19 pandemic, we implement two information treatments. Both treatments contain cross-country information about others’ beliefs about the appropriateness of the government’s or the general public’s reaction to the pandemic. The first treatment is asymmetric across our sample countries, as it shows opposite appropriateness ratings of the governments’ reaction in Vietnam and Thailand, whereas the second treatment is rather symmetric. We find that the information treatments affect consumer sentiment only in Vietnam, where the sign of the effect suggests that the treatments are viewed as positive news. Moreover, consumer sentiment in Vietnam is strongly affected by both treatments when the information goes against respondents’ prior beliefs.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 9010
- Klassifikation
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
Macro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy‡
Expectations; Speculations
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
- Thema
-
consumer sentiment
Covid-19
randomized control trial (RCT)
survey experiment
second-order beliefs
belief updating
government trust
macroeconomic expectations
Thailand
Vietnam
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bui, Dzung
Dräger, Lena
Hayo, Bernd
Nghiem, Giang
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and Ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bui, Dzung
- Dräger, Lena
- Hayo, Bernd
- Nghiem, Giang
- Center for Economic Studies and Ifo Institute (CESifo)
Entstanden
- 2021
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