Wellbeing: Decision making and behavior during COVID-19

Doron Kliger, Meira Levy, Israel Rachevski

Research output: Contribution to journalArticlepeer-review

Abstract

We explored the wellbeing (WB) of individuals and the way in which it interacted with their decision making during the COVID-19 pandemic. We used a questionnaire that includes open- and closed-ended questions to assess individuals’ WB and their views and intentions regarding development and rerouting their life. For the estimation, we devised a structural equation model in which covariates of feature variables – WB-trait (rather stable and personality-oriented) and WB-state (fluctuates over time and situation-oriented) – are interacted with measures of the individuals’ decision making and behavior, while controlling for their demographics. Results show correlations between personal characteristics, and in particular WB, both as a trait and a state, and fresh start decisions during landmark periods. Furthermore, the results reveal that people's WB-trait is much more important than WB-state. People with strong WB-trait are capable of overcoming landmark adverse periods and advancing their capabilities. In addition, personal characteristics, such as education and age, are also positively correlated with WB-trait, while being a parent and being a woman are both associated with lower WB-trait scores. The study demonstrates the importance of WB in times of crisis and calls for decision makers to take action to improve peoples' WB.

Original languageAmerican English
Article number102180
JournalJournal of Behavioral and Experimental Economics
Volume109
DOIs
StatePublished - Apr 2024

Keywords

  • COVID-19
  • Decision making
  • Fresh start
  • Wellbeing

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics
  • Applied Psychology
  • General Social Sciences

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