The stability of personal traits and preferences in times of the Corona pandemic: Evidence from Germany.

  • Published In: Social Science Quarterly (Wiley-Blackwell), 2023, v. 104, n. 5. P. 1138 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: Frondel, Manuel; Osberghaus, Daniel; Sommer, Stephan 3 of 3

Abstract

Based on panel data on around 5500 German households, this article analyzes whether the experience of financial losses due to the Corona pandemic has affected three kinds of personal traits and preferences: the willingness to take risks, patience, and the locus of control (LOC). Our empirical results indicate that patience and the LOC remain unchanged by the experience of pandemic‐related financial losses, whereas we find a negative effect of severe financial losses on risk‐taking, contrasting with the traditional assumption that such preferences are constant. In this respect, our heterogeneity analysis indicates that financial losses due to the Corona pandemic particularly affect the most vulnerable households, notably low‐income households and those with little income diversification. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Social Science Quarterly (Wiley-Blackwell). 2023/09, Vol. 104, Issue 5, p1138
  • Document Type:Article
  • Subject Area:Health and Medicine
  • Publication Date:2023
  • ISSN:0038-4941
  • DOI:10.1111/ssqu.13304
  • Accession Number:171875753
  • Copyright Statement:Copyright of Social Science Quarterly (Wiley-Blackwell) is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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