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Behavioral economics of the Covid-19 pandemic

Author

Listed:
  • David Jimenez-Gomez

    (University of Alicante, Fundamentos del Análisis Económico (FAE))

  • José María Abellán Perpiñán

    (University of Murcia, Economics Department)

Abstract

We study the Covid-19 pandemic from the point of view of behavioral economics, which combines economics and psychology. We analyze the biases (for example, optimism bias) that may have had a greater impact on decision-making regarding the pandemic, as well as potential public health policies from a behavioral economics perspective. We contrast the use of «nudges» (non-coercive measures that do not use economic incentives) with legislative measures, and we advocate for a comprehensive approach that jointly uses the best interventions available, to generate healthy habits (that reduce the transmission of the virus). Finally, we apply this approach to the promotion of vaccination.

Suggested Citation

  • David Jimenez-Gomez & José María Abellán Perpiñán, 2021. "Behavioral economics of the Covid-19 pandemic," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 100(02), pages 26-41.
    • Handle: RePEc:ekz:ekonoz:2021202
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    More about this item

    Keywords

    COVID-19; behavioral economics; health behavior change; nudging;
    All these keywords.

    JEL classification:

    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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