Discussion Paper
Are People Overconfident about Avoiding COVID-19?
Abstract: More than six months into the COVID-19 outbreak, the number of new cases in the United States remains at an elevated level. One potential reason is a lack of preventative efforts either because people believe that the pandemic will be short-lived or because they underestimate their own chance of infection despite it being a public risk. To understand these possibilities, we elicit people’s perceptions of COVID-19 as a public health concern and a personal concern over the next three months to the following three years within the May administration of the Survey of Consumer Expectations (SCE). This post reports results from these survey questions.
Keywords: COVID-19; overconfidence;
JEL Classification: I12;
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Provider: Federal Reserve Bank of New York
Part of Series: Liberty Street Economics
Publication Date: 2020-10-07
Number: 20201007