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COVID-19 and economic preferences: evidence from a panel of cab drivers

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Abstract

This paper studies the impact of the COVID-19 pandemic on risk and time preferences. Using a longitudinal dataset from a survey of cab drivers in Lima (Peru), we document a significant increase in risk tolerance and patience. The changes are heterogeneous and monotonic by age: older cohorts become more risk-taking while younger ones become more patient. Our findings suggest that the pandemic could have affected individuals’ behavior and socioeconomic outcomes via another channel, namely, changes in economic preferences.

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  • Fernando M. Aragon, Noelia Bernal, Mariano Bosch and Oswaldo Molina, 2023. "COVID-19 and economic preferences: evidence from a panel of cab drivers," Discussion Papers dp23-08, Department of Economics, Simon Fraser University.
    • Handle: RePEc:sfu:sfudps:dp23-08
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