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The impact of stay-at-home policies on individual welfare

Andersson, Ola ; Campos-Mercade, Pol LU ; Carlsson, Fredrik LU ; Schneider, Florian H. and Wengström, Erik LU (2022) In Scandinavian Journal of Economics 124(2). p.340-362
Abstract
In this paper, we perform a choice experiment assessing the impact of stay-at-home policies on individual welfare. We estimate the willingness to accept compensation (WTA) for restricting non-working hours in Sweden during the COVID-19 pandemic. The WTA for a one-month stay-at-home policy is about US$480 per person, or 9.1 percent of Sweden's monthly per capita GDP. Stricter lockdowns require disproportionately higher compensation than more lenient ones, indicating that strict policies are cost-effective only if they are much more successful in slowing the spread of the disease. Moreover, older people have a higher WTA of staying home than the rest of the population.
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author
; ; ; and
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Choice experiment, individual welfare effects, mental distress, stay-at-home orders
in
Scandinavian Journal of Economics
volume
124
issue
2
pages
23 pages
publisher
Wiley-Blackwell
external identifiers
  • scopus:85125193572
ISSN
0347-0520
DOI
10.1111/sjoe.12470
language
English
LU publication?
yes
additional info
Funding Information: The authors declare that they have no conflicts of interest. P. Campos‐Mercade acknowledges funding from the Danish National Research Foundation grant DNRF134 (CEBI). F. Schneider acknowledges funding from the Swiss National Science Foundation grant 100018_185176. We thank three anonymous referees for helpful comments. We are grateful for financial support from and . Riksbankens Jubileumsfond Handelsbankens forskningsstiftelse Publisher Copyright: © 2021 The Authors. The Scandinavian Journal of Economics published by John Wiley & Sons Ltd on behalf of Föreningen för utgivande av the SJE.
id
ad1d59dd-4bec-4474-a01a-26e3a008d1ff
date added to LUP
2022-06-19 20:25:22
date last changed
2022-08-11 14:10:46
@article{ad1d59dd-4bec-4474-a01a-26e3a008d1ff,
  abstract     = {{In this paper, we perform a choice experiment assessing the impact of stay-at-home policies on individual welfare. We estimate the willingness to accept compensation (WTA) for restricting non-working hours in Sweden during the COVID-19 pandemic. The WTA for a one-month stay-at-home policy is about US$480 per person, or 9.1 percent of Sweden's monthly per capita GDP. Stricter lockdowns require disproportionately higher compensation than more lenient ones, indicating that strict policies are cost-effective only if they are much more successful in slowing the spread of the disease. Moreover, older people have a higher WTA of staying home than the rest of the population.}},
  author       = {{Andersson, Ola and Campos-Mercade, Pol and Carlsson, Fredrik and Schneider, Florian H. and Wengström, Erik}},
  issn         = {{0347-0520}},
  keywords     = {{Choice experiment; individual welfare effects; mental distress; stay-at-home orders}},
  language     = {{eng}},
  number       = {{2}},
  pages        = {{340--362}},
  publisher    = {{Wiley-Blackwell}},
  series       = {{Scandinavian Journal of Economics}},
  title        = {{The impact of stay-at-home policies on individual welfare}},
  url          = {{http://dx.doi.org/10.1111/sjoe.12470}},
  doi          = {{10.1111/sjoe.12470}},
  volume       = {{124}},
  year         = {{2022}},
}