COGNITIVE BIASES AS A REACTION TO THE COVID-19 PANDEMIC FROM THE PERSPECTIVE OF BEHAVIORAL ECONOMY

Abstract

This paper aims to identify selected behavioral effects in people caused by the coronavirus pandemic. The research problem was formulated as a question: has people’s behavior changed after the announcement of restrictions related to the coronavirus pandemic in Poland? An analysis of the literature, the results of the authors’ own research, and participant observation confirmed the consistency of the results with the literature on behavioral economics. The results may be of cognitive importance in terms of backward induction, taking into account the behavior of the respondents. A selected description of actual behavior during the coronavirus situation is a novelty of the paper. The reader may become aware of differences in their own behavior and that of their family, colleagues, or others. They may also realize that we often react subconsciously and are guided by the suggestions of others.

Keywords

• cognitive biases
• reaction
• covid-19