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Testing Risk Compensation
Jisoo Hwang
Seungsik Hwang
Hyuncheol Bryant Kim
Jungmin Lee
Junseok Lee
其他書名
Evidence from COVID-19 Vaccination
出版
SSRN
, 2023
URL
http://books.google.com.hk/books?id=j3ox0AEACAAJ&hl=&source=gbs_api
註釋
We utilize the phased rollout of COVID-19 vaccines by age as a natural experiment for testing risk compensation. People may resume face-to-face social activities after vaccination because they perceive lower risk of infection. The national vaccination schedule in South Korea enables us to apply a regression discontinuity design based on birth date cutoffs for vaccine eligibility. Using large, high-frequency data from credit card and airline companies as well as survey data, we find no evidence of risk-compensating behaviors, such as increase in shopping, travelling, or socializing. We find some evidence of self-selection into vaccine take-up based on perception towards vaccine effectiveness and side effects, but the treatment effects do not differ between compliers and never-takers.