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Optimism Bias during the Covid-19 Pandemic: Empirical Evidence from Romania and Italy

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  • Elena Druică

    (Centre for Applied Behavioral Economics, University of Bucharest, 030018 Bucharest, Romania)

  • Fabio Musso

    (Department of Economics, Society and Politics, Carlo Bo University from Urbino, 61029 Urbino, Italy)

  • Rodica Ianole-Călin

    (Centre for Applied Behavioral Economics, University of Bucharest, 030018 Bucharest, Romania)

Abstract

Given the importance of perceived susceptibility to a disease in adopting preventive behaviors, and the negative impact of optimism bias on prevention, this paper aimed to explore to what extent comparative optimism bias (understood as the tendency to assess a lower probability for oneself to experience negative health events compared to others) is present in the specific context of the Covid-19 pandemic, in two countries with different profiles in terms of the spread of the disease: Italy and Romania. After identifying optimism bias in both countries, we tested whether it depends on respondents’ characteristics like gender, age, education, health status and whether or not they have the opportunity to work from home. We surveyed 1126 Romanians and 742 Italians, and found that optimism bias depends on self-reported health status, and that optimism bias increases with age. Inconclusive evidences were found regarding gender and education level, as well as the option to work from home.

Suggested Citation

  • Elena Druică & Fabio Musso & Rodica Ianole-Călin, 2020. "Optimism Bias during the Covid-19 Pandemic: Empirical Evidence from Romania and Italy," Games, MDPI, vol. 11(3), pages 1-15, September.
    • Handle: RePEc:gam:jgames:v:11:y:2020:i:3:p:39-:d:414819
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    1. Zechen Zeng & Nobutoshi Nawa & Chie Hirama & Takeo Fujiwara, 2023. "Hedonic Risk Preference Associated with High-Risk Behaviors under COVID-19 Pandemic among Medical Students in Japan," IJERPH, MDPI, vol. 20(12), pages 1-13, June.
    2. Volker C. Franke & Charles N. Elliott, 2021. "Optimism and Social Resilience: Social Isolation, Meaninglessness, Trust, and Empathy in Times of COVID-19," Societies, MDPI, vol. 11(2), pages 1-17, April.
    3. Apergis, Nicholas, 2022. "Overconfidence and US stock market returns," Finance Research Letters, Elsevier, vol. 45(C).
    4. Erica Freer & Quinn Keefer, 2022. "Optimism Bias and Perceptions of Behavioral Factors for Preventing Severe COVID-19 Complications," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 6(1), pages 11-20, December.
    5. Dariusz Dolinski & Wojciech Kulesza & Paweł Muniak & Barbara Dolinska & Ali Derakhshan & Tomasz Grzyb, 2021. "Research on Unrealistic Optimism among HoReCa Workers as a Possible Future Hotspot of Infections," Sustainability, MDPI, vol. 13(22), pages 1-15, November.
    6. Maria-Magdalena Roșu & Rodica Ianole-Călin & Raluca Dinescu & Anca Bratu & Răzvan-Mihail Papuc & Anastasia Cosma, 2021. "Understanding Consumer Stockpiling during the COVID-19 Outbreak through the Theory of Planned Behavior," Mathematics, MDPI, vol. 9(16), pages 1-15, August.
    7. Andreea Orîndaru & Maria-Floriana Popescu & Ștefan-Claudiu Căescu & Florina Botezatu & Margareta Stela Florescu & Carmen-Cristina Runceanu-Albu, 2021. "Leveraging COVID-19 Outbreak for Shaping a More Sustainable Consumer Behavior," Sustainability, MDPI, vol. 13(11), pages 1-19, May.
    8. Wasim ul Rehman & Omur Saltik & Faryal Jalil & Suleyman Degirmen, 2024. "Viral decisions: unmasking the impact of COVID-19 info and behavioral quirks on investment choices," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-20, December.

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