Related Experiment Video
Updated: Aug 18, 2025
13:04
Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
12.2K
Does higher perceived risk of morbidity and mortality decrease risk-taking?
Mélusine Boon-Falleur1, Brigitte Dormont2, Coralie Chevallier1
1LNC², Département d'études cognitives, Ecole normale supérieure, Université PSL, INSERM, 75005 Paris, France.
Royal Society Open Science
|December 9, 2022
Summary
People adapt their behavior to negative health shocks like COVID-19. Higher perceived risk of illness or death increases risk aversion and reduces patience, influencing decision-making.
Area of Science:
- Behavioral Economics
- Public Health
- Psychology
Background:
- Behavioral responses to negative shocks are documented.
- Optimal behavior is influenced by environmental mortality risk.
- The COVID-19 pandemic significantly altered daily life and perceived risks.
Purpose of the Study:
- Investigate how individuals perceive morbidity and mortality risks from COVID-19.
- Examine the impact of perceived risk on psychological traits like risk-taking and patience.
- Understand behavioral adaptations to health threats.
Main Methods:
- Analysis of a large survey (n=3353) during the first COVID-19 wave in France.
- Utilized a structural model to address endogeneity concerns.
- Assessed perception of morbidity and mortality risk based on local public information.
Main Results:
- Individuals use local COVID-19 death data to estimate personal risk.
- Increased perceived morbidity and mortality risk significantly raises risk aversion.
- Higher perceived risk correlates with decreased patience, particularly at elevated risk levels.
Conclusions:
- People adjust their behavior in anticipation of negative health shocks.
- Perceived COVID-19 risks influence psychological traits related to decision-making.
- Behavioral adaptations are a response to the threat of illness or death.
Related Concept Videos
01:23Types of Biopharmaceutical Studies: Controlled and Non-Controlled Approaches
157
Biopharmaceutical studies constitute a vital field aiming to enhance drug delivery methods and refine therapeutic approaches, drawing upon diverse interdisciplinary knowledge. In research methodologies, the choice between controlled and non-controlled studies significantly influences the study's reliability and accuracy.
Non-controlled studies, commonly employed for initial exploration, lack a control group, rendering them susceptible to biases and external influences. In contrast,...
Non-controlled studies, commonly employed for initial exploration, lack a control group, rendering them susceptible to biases and external influences. In contrast,...
157
01:18Factors Affecting Illness
4.3K
When a person's physical, emotional, intellectual, social development or spiritual functioning is compromised, this deviation from a healthy normal state is called illness. Illness creates stress that in turn harms individuals. Irritation, anger, denial, hopelessness, and fear are behavioral and emotional changes an individual experiences in the phases of illness. A variety of factors influence a person's health and well-being.
For instance, risk factors are connected to illness,...
For instance, risk factors are connected to illness,...
4.3K
03:26Framing Effects
7.4K
Information is everywhere and its presentation—such as how and when items are presented—can impact our perceptions and decisions surrounding the info. This broad concept umbrellas framing effects—influences that occur due to the way information is framed in its appearance, whether it’s purely the order or the specific wording of a message. Let’s take a look at numerous ways in which two versions of something can objectively say the same thing, yet we respond in...
7.4K
01:52Regression Toward the Mean
6.3K
Regression toward the mean (“RTM”) is a phenomenon in which extremely high or low values—for example, and individual’s blood pressure at a particular moment—appear closer to a group’s average upon remeasuring. Although this statistical peculiarity is the result of random error and chance, it has been problematic across various medical, scientific, financial and psychological applications. In particular, RTM, if not taken into account, can interfere when...
6.3K
01:26Stress Prevention and Stress Management Techniques IV
54
Stress often leads to unhealthy habits like smoking, excessive drinking, and overeating, which offer short-term relief but ultimately increase long-term health risks. These behaviors create a cycle that temporarily lowers stress levels but can result in severe long-term health consequences. Breaking these habits is essential to reduce the risk of chronic diseases and improve overall well-being. Three primary changes that support better health include quitting smoking, reducing alcohol intake,...
54
01:12Relative Risk
281
Relative risk (RR) is a statistical measure commonly used in epidemiology to compare the likelihood of a particular event occurring between two groups. This metric is important for evaluating the relationship between exposure to a specific risk factor and the probability of a particular outcome. It plays a crucial role in medical research, public health studies, and risk assessment. Relative risk quantifies how much more (or less) likely an event is to occur in an exposed group compared to an...
281