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Risk Aversion and COVID-19 Vaccine Hesitancy

Author

Listed:
  • Lepinteur, Anthony

    (University of Luxembourg)

  • Borga, Liyousew G.

    (Luxembourg Institute of Health)

  • Clark, Andrew E.

    (Paris School of Economics)

  • Vögele, Claus

    (University of Luxembourg)

  • D'Ambrosio, Conchita

    (University of Luxembourg)

Abstract

We here investigate the role of risk aversion in COVID-19 vaccine hesitancy. The theoretical effect is ambiguous, as both COVID-19 infection and vaccination side-effects involve probabilistic elements. In large-scale data covering five European countries, we find that vaccine hesitancy falls with risk aversion, so that COVID-19 infection is perceived as involving greater risk than is vaccination.

Suggested Citation

  • Lepinteur, Anthony & Borga, Liyousew G. & Clark, Andrew E. & Vögele, Claus & D'Ambrosio, Conchita, 2023. "Risk Aversion and COVID-19 Vaccine Hesitancy," IZA Discussion Papers 16084, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp16084
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    References listed on IDEAS

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    More about this item

    Keywords

    risk aversion; COVID-19; vaccine hesitancy;
    All these keywords.

    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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