Citation

Hwang J, Hwang SS, Kim HB, Lee J, Lee J. Health Econ. 2024; ePub(ePub): ePub.

Copyright

(Copyright © 2024, John Wiley and Sons)

DOI

10.1002/hec.4837

PMID

38728372

Abstract

We utilize the phased rollout of COVID-19 vaccines by exact birth date in South Korea as a natural experiment for testing risk compensation. People may resume face-to-face social activities following vaccination because they perceive lower risk of infection. Applying a regression discontinuity design based on birth date cutoffs for vaccine eligibility, we find no evidence of risk-compensating behaviors, as measured by large, high-frequency data from credit card and airline companies as well as survey data. We find some evidence of self-selection into vaccine take-up based on perception toward vaccine effectiveness and side effects, but the treatment effects do not differ between compliers and never-takers.

Language: en

Keywords

COVID‐19; risk compensation; social distancing; vaccine take‐up