Pandemic exposure and long‐run psychological well‐being

Chao MA; Yiwei LI; Wenxin JIANG; Xing ZHANG

doi:10.1111/ecin.13176

Pandemic exposure and long‐run psychological well‐being

Chao MA, Yiwei LI, Wenxin JIANG, Xing ZHANG^*

^*Corresponding author for this work

Department of Marketing and International Business

Research output: Journal Publications › Journal Article (refereed) › peer-review

Abstract

Using individuals' life history information from a large-scale national survey (N = 13,044), we causally evaluate how exposure to SARS-Cov-1, the first global pandemic in the 21st century, affects long-term psychological well-being. We find that exposure to local pandemic risk, that is, local deaths due to the pandemic, significantly reduced people's mental health 12 years later. Consistent with the belief-based account of depression, exposure to pandemic risk resulted in more pessimistic beliefs about the future and survival probability. People reduced savings and increased hedonic consumption, suggesting a “carpe diem” effect of the pandemic exposure.

Original language	English
Pages (from-to)	39-55
Number of pages	17
Journal	Economic Inquiry
Volume	62
Issue number	1
Early online date	31 Aug 2023
DOIs	https://doi.org/10.1111/ecin.13176
Publication status	Published - Jan 2024

Bibliographical note

Publisher Copyright:
© 2023 Western Economic Association International.

Funding

The authors are grateful for the comments by the editor, the data editor, two reviewers, Hongqiao Fu, Yunfeng Lu, Ju Shi, Zhengxiu Sun, Chengwei Wang, and seminar participants at Chongqing University, Jinan University, Peking University, and Shandong University. Special appreciation goes to Ze Song for his invaluable assistance with data processing. This work was supported by the National Natural Science Foundation of China (No. 72074045), the Faculty Research Grant (DB22A6) at Lingnan University, and the Summer Research Grant at Sungkyunkwan University.

Keywords

belief formation
carpe diem
pandemic
psychological well-being
risk perception

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1111/ecin.13176

https://onlinelibrary.wiley.com/doi/10.1111/ecin.13176

Cite this

@article{f9a82d70aa1543808517e16ba6827fdb,

title = "Pandemic exposure and long‐run psychological well‐being",

abstract = "Using individuals' life history information from a large-scale national survey (N = 13,044), we causally evaluate how exposure to SARS-Cov-1, the first global pandemic in the 21st century, affects long-term psychological well-being. We find that exposure to local pandemic risk, that is, local deaths due to the pandemic, significantly reduced people's mental health 12 years later. Consistent with the belief-based account of depression, exposure to pandemic risk resulted in more pessimistic beliefs about the future and survival probability. People reduced savings and increased hedonic consumption, suggesting a “carpe diem” effect of the pandemic exposure.",

keywords = "belief formation, carpe diem, pandemic, psychological well-being, risk perception",

author = "Chao MA and Yiwei LI and Wenxin JIANG and Xing ZHANG",

note = "Publisher Copyright: {\textcopyright} 2023 Western Economic Association International.",

year = "2024",

month = jan,

doi = "10.1111/ecin.13176",

language = "English",

volume = "62",

pages = "39--55",

journal = "Economic Inquiry",

issn = "0095-2583",

publisher = "Wiley-Blackwell Publishing Ltd",

number = "1",

}

TY - JOUR

T1 - Pandemic exposure and long‐run psychological well‐being

AU - MA, Chao

AU - LI, Yiwei

AU - JIANG, Wenxin

AU - ZHANG, Xing

PY - 2024/1

Y1 - 2024/1

N2 - Using individuals' life history information from a large-scale national survey (N = 13,044), we causally evaluate how exposure to SARS-Cov-1, the first global pandemic in the 21st century, affects long-term psychological well-being. We find that exposure to local pandemic risk, that is, local deaths due to the pandemic, significantly reduced people's mental health 12 years later. Consistent with the belief-based account of depression, exposure to pandemic risk resulted in more pessimistic beliefs about the future and survival probability. People reduced savings and increased hedonic consumption, suggesting a “carpe diem” effect of the pandemic exposure.

AB - Using individuals' life history information from a large-scale national survey (N = 13,044), we causally evaluate how exposure to SARS-Cov-1, the first global pandemic in the 21st century, affects long-term psychological well-being. We find that exposure to local pandemic risk, that is, local deaths due to the pandemic, significantly reduced people's mental health 12 years later. Consistent with the belief-based account of depression, exposure to pandemic risk resulted in more pessimistic beliefs about the future and survival probability. People reduced savings and increased hedonic consumption, suggesting a “carpe diem” effect of the pandemic exposure.

KW - belief formation

KW - carpe diem

KW - pandemic

KW - psychological well-being

KW - risk perception

UR - http://www.scopus.com/inward/record.url?scp=85169338320&partnerID=8YFLogxK

U2 - 10.1111/ecin.13176

DO - 10.1111/ecin.13176

M3 - Journal Article (refereed)

SN - 0095-2583

VL - 62

SP - 39

EP - 55

JO - Economic Inquiry

JF - Economic Inquiry

IS - 1

ER -

Pandemic exposure and long‐run psychological well‐being

Abstract

Bibliographical note

Funding

Keywords

UN SDGs

Access to Document

Other files and links

Fingerprint

Shadow of Pandemics: Exposure to SARS and Long-term Psychological Well-being Afterward

Cite this

Pandemic exposure and long‐run psychological well‐being

Abstract

Bibliographical note

Funding

Keywords

UN SDGs

Access to Document

Other files and links

Fingerprint

Projects

Shadow of Pandemics: Exposure to SARS and Long-term Psychological Well-being Afterward

Cite this