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Willingness to pay to escape COVID-19 related social restrictions

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  • Tinna Laufey Ásgeirsdóttir
  • Hjördis Hardardóttir

Abstract

We estimate the willingness to pay to escape different bundles of social restrictions imposed by the authorities in Iceland during COVID-19 using contingent valuation methods. Average willingness to pay to escape a bundle of social restrictions for 1 month is USD 139, amounting to approximately 2% of monthly GDP per capita in Iceland. We also find a net preference for substantial entry restrictions at the country’s border.

Suggested Citation

  • Tinna Laufey Ásgeirsdóttir & Hjördis Hardardóttir, 2024. "Willingness to pay to escape COVID-19 related social restrictions," Applied Economics Letters, Taylor & Francis Journals, vol. 31(18), pages 1862-1873, October.
    • Handle: RePEc:taf:apeclt:v:31:y:2024:i:18:p:1862-1873
    DOI: 10.1080/13504851.2023.2208333
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