How Does the COVID-19 Pandemic Affect People's Willingness to Pay for Health in the Short and Long Term? A Longitudinal Study during and after the COVID-19 Pandemic in China

Abstract

The COVID-19 pandemic has posed a substantial threat to people's lives and aroused health concerns. This study aims at exploring the following questions. First, how does the COVID-19 pandemic affect people's willingness to pay for health (WPH) in the short and long term? Second, what is the psychological mechanism underlying such an effect? Finally, what are the boundary conditions for this effect? To answer these questions, we conducted three longitudinal surveys. The first survey was launched in February 2020-the time of the most serious outbreak of COVID-19 in China. Data were obtained from 1548 participants through questionnaires on an online survey platform. The sample covered 297 prefecture-level cities in 31 provincial administrative regions. Subsequently, we conducted two follow-up surveys in August 2020 and July 2021. The samples of these surveys were randomly selected from the sample of the first survey. The findings showed that the pandemic promoted people's WPH in the outbreak period. The fear of death and self-esteem mediated and moderated this effect, respectively. Moreover, the effect persisted for six months after the COVID-19 pandemic had been brought under control (August 2020). However, the effect disappeared after a year and a half (July 2021). These results indicate that the COVID-19 pandemic promoted people's WPH and that this effect was sustained in the short term after the pandemic had been brought under control but not in the long term.

Keywords: COVID-19 pandemic; fear of death; self-esteem; willingness to pay for health.

Figure 1

Theoretical model. Note: + means a significant positive effect, —means a significant negative effect.