THE CONNECTION OF BEHAVIOURAL ECONOMICS TOWARDS MINIMIZING THE COVID-19 SPREAD

Abstract

The ongoing pandemic situation owing to the global spread of COVID-19 has lead to an unprecedented
health emergency which concerns every nation of the world. The rapid rise of COVID-infected patients is
of grave concern to authorities everywhere and is constant challenge for health services. The public health
system, especially in developing and underdeveloped countries, is motivating to people to opt for, and
continue, preventive mechanisms thereby seeking to minimize the COVID-19 spread. At the same time, it
is a monumental challenge for the public health service providers to constantly motivate the masses to
desist from reckless behaviour which leads to the further spreading of COVID-19. Adherence towards
such behavioural pattern by the common man which results in mitigation of COVID-19 is something
which health authorities are trying their level best to encourage but need better methods for the same. The
current paper deals with various aspects related to behavioural economics which amplify upon the
irrationality being exhibited on the part of the people while dealing with COVID-19. Such concepts as
status quo bias, present bias, optimism bias, herding behaviour, affect heuristic, framing effect have been
discussed in this connection. An attempt has been made towards enriching public health plan courtesy
behavioural economics in the ongoing global response to COVID-19.