TY  - UNPD
A1  - Bu, Di
A1  - Hanspal, Tobin
A1  - Liao, Yin
A1  - Liu, Yong
T1  - Risk taking, preferences, and beliefs: evidence from Wuhan
T2  - SAFE working paper ; No. 301
N2  - We study risk taking in a panel of subjects in Wuhan, China - before, during the COVID-19 crisis, and after the country reopened. Subjects in our sample traveled for semester break in January, generating variation in exposure to the virus and quarantine in Wuhan. Higher exposure leads subjects to reduce planned risk taking, risky investments, and optimism. Our findings help unify existing studies by showing that aggregate shocks affect general preferences for risk and economic expectations, while heterogeneity in experience further affect risk taking through beliefs about individuals’ own outcomes such as luck and sense of control. 

JEL Classification: G50, G51, G11, D14, G41
T3  - SAFE working paper - 301 
KW  - COVID-19
KW  - Risk taking
KW  - Beliefs
KW  - Formative experiences
KW  - Expectations
KW  - China
Y1  - 2021
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/57393
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-573938
IS  - December, 2020
PB  - SAFE
CY  - Frankfurt am Main
ER  -