Counterterrorism resource allocation during a pandemic: The effects of dynamic target valuations when facing a strategic terrorist.

The outbreak of pandemics such as COVID-19 can result in cascading effects for global systemic risk. To combat an ongoing pandemic, governmental resources are largely allocated toward supporting the health of the public and economy. This shift in attention can lead to security vulnerabilities which are exploited by terrorists. In view of this, counterterrorism during a pandemic is of critical interest to the safety and well-being of the global society. Most notably, the population flows among potential targets are likely to change in conjunction with the trend of the health crisis, which leads to fluctuations in target valuations. In this situation, a new challenge for the defender is to optimally allocate his/her resources among targets that have changing valuations, where his/her intention is to minimize the expected losses from potential terrorist attacks. In order to deal with this challenge, in this paper, we first develop a defender-attacker game in sequential form, where the target valuations can change as a result of the pandemic. Then we analyze the effects of a pandemic on counterterrorism resource allocation from the perspective of dynamic target valuations. Finally, we provide some examples to display the theoretical results, and present a case study to illustrate the usability of our proposed model during a pandemic.

Willingness to pay to escape COVID-19 related social restrictions

We estimate the willingness to pay to escape different bundles of social restrictions imposed by the authorities in Iceland during COVID-19 using contingent valuation methods. Average willingness to pay to escape a bundle of social restrictions for 1 month is USD 139, amounting to approximately 2% of monthly GDP per capita in Iceland. We also find a net preference for substantial entry restrictions at the country's border. © 2023 Informa UK Limited, trading as Taylor & Francis Group.

The material value of public safety in Poland in the face of 2021 migrant crisis-a pilot study

Public security in the face of the current large-scale migration crisis in Central and Eastern Europe, which is the first since World War II, is an issue that should be examined taking into account various criteria (social, economic, political, extreme threat, etc.). The aim of this paper is to answer the research questions: (1) do people in Poland fear migrants? (2) how do they value public safety? To answer the research question, the authors conducted a survey and estimated the value of public safety with the use of the contingent valuation method. Because of the Covid-19 pandemic, the questionnaires were collected online (previously also sent online to academic communities throughout Poland). The research was carried out in Poland in November and December 2021 in an attempt to grasp the migrant crisis at the east- ern EU border. According to the study results, the value of public safety in Poland amounts to PLN 210.8 billion (almost EUR 45 billion). Based on the situation in Central and Eastern Europe in 2022, it was found that most respondents are not afraid of migrants. Such a result should encourage further in-depth analyses of the broadly understood phe- nomena of personal security and social security, taking into account also other empirical variables including.

The lost value for users of cultural institutions during the COVID-19 pandemic: a life satisfaction approach.

Studies related to the assessment of the non-market values of culture typically employ methods based on stated or revealed preferences. In this paper, we implement a new emerging non-market valuation technique, namely the life satisfaction approach. In particular, we quantify in monetary values, the additional utility that people benefit from cultural experiences, as well as the additional disutility suffered by cultural consumers specifically due to the closure of cultural organisations during the COVID-19 pandemic, as the pandemic provides a unique setting. Using a survey conducted in Denmark in the spring of 2020, we confirm the link between cultural participation and well-being by estimating a life satisfaction model, instrumenting for both income and cultural participation to avoid simultaneity problems. Furthermore, we show that fervent cultural consumers have experienced an additional welfare loss during the lockdown period, controlling for all other known life dimensions affected by the pandemic. Our results aim to highlight the role of cultural participation in sustaining life satisfaction and, consequently, to support a well-being evidence-based cultural policy that facilitate cultural accessibility as a mean to increase the individual well-being.

Valuation and financing of National Parks in South and South East Asia: a meta-analysis

Protected Areas, the mainstay of biodiversity conservation, are facing an unprecedented threat of being exploited, making their conservation not only crucial but also urgent. As the looming threat does not leave scope for expensive and time-consuming surveys, this paper intends to add to the existing literature and to the cause of biodiversity conservation by undertaking the first ever multinational Meta-Analysis of National Park (NP) valuation studies in South and South East Asia. The relative importance of study-, site-, and socioeconomic characteristics is estimated through a meta-regression and suggestions for redesigning pricing strategies to capture the unrealized consumer surplus are presented. Key results highlight the importance of the place of residence, area of the NP, and GDP per capita in explaining variation in NP value. Furthermore, taking note of the havoc wreaked by the COVID-19 pandemic, the study highlights the need to diversify the funding base for NP management in order to ensure sustainable financing by presenting country-specific examples.

The Pandemic Shut-In: Reactivating Wells Shut-In in Spring/Summer 2020 – The Impact on 10-Year Forecast and EUR Outlook: A Duvernay Oil Case Study

The COVID-19 pandemic forced Canadian oil and gas operators to cut crude oil production by almost 1 MMb/d in the first half of 2020 due to low oil prices driven by reduced demand. This study explores the forecast and EUR performance of unconventional horizontal oil wells producing from the Duvernay Formation in central Alberta that were shut-in versus those that continued to produce uninterrupted throughout the reduced production period. How were forecasted production and EURs impacted? Did the manner in which the wells were completed play a role? This paper investigates these questions and more in a regional case study of 95 unconventional Duvernay oil wells using public data and a fully automated, physio-statistical, predictive analytical production forecasting tool. The bases of the performance comparison were the results of a 10-year forecast and EUR outlook for the wells evaluated in January, 2020 before the production slow down, and then re-evaluated in January, 2021, 12 months later, after the wells that were shut-in were back on production. In general, wells that continued producing uninterrupted throughout the study period exhibited significantly improved forecast and EUR performance over wells that were shut-in. Analyzing the performance of the largest field (Cygnet with 32 wells), with respect to lateral length, the results pointed to shorter wells that were shut-in exhibiting the poorest performance, where the wells' EUR performance degraded by 7% on average. The proppant intensity study for the same wells told a similar story, with shut-in wells with smaller fracs exhibiting negligible EUR improvement (0.4%) compared to the other categories of wells, with respect to frac size and shut-in status. A proximity study investigated two pads, one with only shut-in wells and the other with only non-shut-in wells, with the results pointing to competitive drainage between individual wells despite the overall performance of a given pad being neutral. Copyright 2022, Unconventional Resources Technology Conference (URTeC)

Pricing and Risk Management of Multi-Assets Financial Instruments to Natural Disasters

COVID-19 not only led to a significant loss of human lives but also brought indelible economic loss. To transfer the natural disaster risk, a variety of financial instruments written on the environmental phenomena have been developed and issued by financial institutions. The gamma distribution family is characterized by sparsity, heavy tail, and high skewness;thus, it has been widely used to model the data of environmental phenomena. To exploit the versatility of the gamma distribution, Vitiello and Poon propose the pricing model for financial instruments under the general equilibrium risk neutral valuation relationship (RNVR) framework. Though the VP model is capable of pricing financial instruments, their underlying is limited to a single asset. However, the vast majority of firms face various risks and prefer more efficient and cheaper ways to hedge these risks and maintain financial stability. To price multiple-asset financial instruments, this study extends the single-asset VP model to a multi-asset VP model (MVP) under the RNVR framework. Based on the MVP model, this study demonstrates two applications to price basket options and spread options. To manage the pricing of financial instruments that do not have closed-form pricing formulas, this study develops the Monte Carlo simulation method within the MVP model framework. For risk management, this study provides hedge ratios for market practitioners to manage their risk exposures. © 2023 Taylor & Francis Group, LLC.

On the economic evaluation of online learning in higher education during the COVID-19 pandemic: a willingness-to-accept approach

PurposeThis study, using a contingent valuation approach, aims to shed light on the economic evaluation of online learning during the first wave of the pandemic. Design/methodology/approachA sample of 959 higher education students was asked about their willingness-to-accept (WTA) a monetary compensation for the loss of well-being resulting from the unexpected and mandatory transition to the online space. In explaining WTA determinants, the authors test the appropriateness of the double-hurdle model against the alternative of a Tobit model and find that the factors affecting the participation decision are not the same as those that affect the quantity decision. FindingsResults show that a vast majority of the respondents think that the abrupt transition to online learning is detrimental to them, while those willing to accept a monetary compensation account for 77% of the sample, being the mean WTA between euro448 and euro595. As expected, WTA decreases with income and age, and it increases if some member of the family unit is unemployed. By aggregating the mean WTA by the population affected, total loss of well-being is obtained. Originality/valueTo the best of the authors' knowledge, to date, this method has not been used to value online learning in a WTA framework, much less in the particular context of the pandemic. Thus, based on the understanding that the economic evaluation of online learning could be very useful in providing guidance for decision-making, this paper contributes to the literature on the economic evaluation of higher education.

Local perception of the current state and threat factors of a critically endangered species, Celtis toka (Forssk.) Hepper & JRI Wood, in Burkina Faso: implications for species conservation

Celtis toka, the only species of the genus Celtis (family Cannabaceae) encountered in the flora of Burkina Faso, is critically endangered in the country. To engage the public for the future conservation and domestication of the species, knowledge of the factors threatening Celtis toka survival is necessary. Thus, the study objective was to identify the perceptions of local people concerning the current state and conservation strategies of Celtis toka in Burkina Faso. To investigate potential solutions to the threats posed to Celtis toka, we randomly surveyed 405 consenting participants using a selected semi-structured interview. Moreover, field observations were performed to assess the threat drivers cited by local people of the Sudanian and Sudano-Sahelian climatic zones. Descriptive analyses (relative frequency and fidelity level) and generalized linear models (GLMs) were used to highlight the impact of sociodemographic factors and climate zones on the current state, threat drivers, and potential solutions. The chi-square test was used to assess whether to plant C. toka. GLM analyses revealed that local knowledge about the current state, threat factors and potential solution to the threat as related to natural stand varied significantly according to ethnolinguistic group (P < 0.000), sex (P = 0.01) and age (P = 0.01). Rural people had varying perceptions of the current state of C. toka. Sixty-eight percent reported a decrease in population, ten percent reported scarcity, and five percent reported extinction. The views of local people were that the factors affecting C. toka were pruning (25%), climate change (14%), deforestation (10%), ageing (10%), debarking (9%), and agriculture (7%). Potential solutions included planting (45%), conservation of C. toka and its habitat (27%), sustainable use of Celtis toka (14%), promotion of education and awareness about Celtis toka (10%) and tree/crop association (5%). The study concluded that the ethnobotanical knowledge of Celtis toka may play an important role in its conservation and domestication in Burkina Faso. Furthermore, its incorporation into reforestation and restoration programs is critical to species survival.

Impact of COVID-19 on Engineering Students in the Middle Phases of the Pandemic: Academic Motivation, Valued College Experiences, and Stress

When COVID-19 struck, engineering schools responded to unique issues, including interrupted capstone projects, cooperative education, and study abroad. Students became a focus. This led to a funded study to investigate the pandemic's impact on engineering students' academic motivation, educational valuation, learning, and perceived stress, which were connected through a conceptual model. Approximately seven months after the onset, a large sample of undergraduate engineering students at a public U.S. university (n = 1,140) responded to a survey (41.6% response), followed by focus groups. Jones' MUSIC Model of Academic Motivation and the Perceived Stress Scale (PSS-10) were key components of the conceptual model. Seventy-eight percent (78%) said their motivation was less versus before remote instruction. Two dimensions of the MUSIC Model were only at the middle point of the measurement scale - interest and empowerment. Students scored higher on the PSS-10 (M = 22.2) seven months into the pandemic compared to other groups beforehand. Medium negative correlations were found between the MUSIC dimensions and the PSS-10 score, suggesting decreased motivation accompanied by increased stress. Remote coursework was the most-frequent de -motivator, and the valued college experience cited most was Campus-based instruction. The most-frequent stressor was Academic. In all focus groups, low or decreased motivation was mentioned. This research informs Higher Education about undergraduates' motivation and stress, in particular during COVID-19 and contributes to use of the MUSIC Model and PSS-10 with engineering students. Awareness of motivation and stress experienced during COVID is crucial for responding to future crises.

Bond Portfolio Optimization with Long-Range Dependent Credits

Consider the optimal allocation between money market account and corporate bond fund. While the money market account is free of credit risk, corporate bonds are defaultable and exhibit long-range dependence (LRD) in credit risk. We propose a Volterra default intensity model to capture the LRD in credit risk. Using utility maximization, we derive the novel optimal investment strategy for a corporate bond fund. As empirical study shows that the COVID-19 pandemic has lowered the level of LRD in credit risk, we conduct sensitivity analysis and empirically investigate the changes in demand for corporate bonds before and during the pandemic period.

Sway of COVID-19 on Stock value of FMCG Companies in India

Worldwide, 1.75 crores of cases are related to corona virus and deaths are approx. 6.7 lakhs. The outbreak of Coronavirus was declared in March 2020 in India and up to July total number of cases crossed the figure of sixteen lakhs with almost thirty-five thousands of deaths. People are facing shortage of money, health issues, social issues, employment issue. This study aims to analyse the impact of Coronavirus disease on stock price of FMCG companies of India. Alike other countries of world Indian government also used lockdown to stop transmission of infection in the country. To analyse the impact of Coronavirus shares prices from March 2020 to July 2020 of top companies listed in Indian stock exchange and data regarding daily increase in confirm cases and number of deceased have been collected. Various statistical tools are applied with the help of Eviews. Finding of study indicated that there is significant impact of Corona Virus over stock price of FMCG sector. © 2023, Indian Institute of Finance. All rights reserved.

Total Value Adjustment of Multi-Asset Derivatives under Multivariate CGMY Processes

Counterparty credit risk (CCR) is a significant risk factor that financial institutions have to consider in today's context, and the COVID-19 pandemic and military conflicts worldwide have heightened concerns about potential default risk. In this work, we investigate the changes in the value of financial derivatives due to counterparty default risk, i.e., total value adjustment (XVA). We perform the XVA for multi-asset option based on the multivariate Carr–Geman–Madan–Yor (CGMY) processes, which can be applied to a wider range of financial derivatives, such as basket options, rainbow options, and index options. For the numerical methods, we use the Monte Carlo method in combination with the alternating direction implicit method (MC-ADI) and the two-dimensional Fourier cosine expansion method (MC-CC) to find the risk exposure and make value adjustments for multi-asset derivatives.

An analysis of Residents' Willingness to Pay for Domestic Nature-Based Tourism in Botswana During and Post the COVID-19 Pandemic

The COVID-19 pandemic halted tourism leading to job losses, loss of livelihoods and revenue losses at national and international levels. The pandemic has reinforced the need to develop strong domestic tourism bases. The overall aim of this study is to estimate domestic tourists' willingness to pay for domestic tourism packages during and post the COVID-19 pandemic. To achieve the overall aim, this study seeks to estimate the residents' willingness to pay (WTP) for a standard two-day domestic nature-based tourism package and analyse factors influencing residents' WTP for domestic nature-based tourism. The study relied on primary data sourced from an online questionnaire administered randomly to residents aged 18 years and older. The contingent valuation method (CVM) was used to analyse the average level of the residents' WTP for domestic tourism. On average, the respondents were willing to pay for a standard two-day domestic nature-based tourism experience package valued at BWP3 340.66 per person sharing. Some camps charge as high as BWP72 097.62 for a similar package. There is a need to develop plans that promote pricing and product offerings that accommodate domestic tourists without having an impact on the sustainability of natural resources and the integrity of the natural environment © 2023 AJHTL /Author(s)

Calidad de vida de los cafeticultores en las Altas Montañas de Veracruz, México

Introduction: The High Mountain Region (RHM) is the most productive and socioeconomic region for the coffee cultivation in the state of Veracruz, Mexico, and one of the most representative of the sector at the national level. Background: To determine the quality of life (QL) from the objective and subjective point of view of the small coffee producers (SP) in RHM, Mexico. Materials and methods: One hundred and fifty semi-structured interviews were applied to producers in eleven municipalities located in: Comapa, Coscomatepec, Huatusco, Ixhuatl..n del caf.., Sochiapa, Tenampa, Tomatl..n, Totutla, Tlaltetela, Tlacotepec, and Zentla, during 2020. Descriptive statistics and trend measurements were obtained. Results: At objective level the QL was found to be low, but at the farmers' subjective level, it was determined to be acceptable. In the objective assessment, it was identified that the SP have minimal education (primary), the income is not adequate (they require activities outside the farm with an average net annual income of US $ 416 to US $ 1115), the cost of health has increased (due to the COVID-19 pandemic), and proper nutrition is lacking (19 to 25 meals per month). In the subjective assessment there is insecurity and distrust with the government authorities, however, the producers have adapted to living in adverse socioeconomic contexts, since they value community life, intra-family relationships and their environment (coffee growing), which could be influenced by their own worldview. Conclusion: With or without knowledge of the concept of quality, producers have developed a learned or acquired capacity, both individually and collectively to adapt to the environment. Objectively, the quality of life is considered low, however, the interviewees had a perception of satisfaction both individually and collectively.

Competition for domestic tourism in the COVID-19 pandemic: A characterization using a contest model

The COVID-19 has caused a dramatic fall in international tourism demand. Destinations within countries have revised their promotion strategies, intensifying the competition for the domestic market, less affected by mobility restrictions. This paper proposes a contest theory model for characterizing this new context. Two types of destinations, coastal (sun and sand) and rural, compete for the existing demand in terms of promotion spending. The competition is driven by two main factors: the relative strategic advantage of each destination in the international and domestic markets and the strategic value given to each market. The pandemic has likely modified these factors, reducing the traditional advantage of coastal destinations and shifting the valuation towards the domestic market. According to the model, these changes may increase competition for the domestic market, with destinations rising promotion spending even in a context of reduced demand, which is consistent with the empirical evidence.

AME+Cyber: Evaluating the online delivery of a holistic cyber-related talent development program

The present study used an explanatory mixed-method design to examine the effects of the Achievement Motivation Enhancement (AME)+Cyber enrichment program and teachers' perception of procedures and outcomes in the context of emergency remote teaching, including online and hybrid formats, during the COVID-19 pandemic. Three teachers implemented the program with 57 students in grades 9 through 12. To evaluate the program, we combined change score analysis of pretest and posttest data on academic self-perception, self-regulation, goal valuation, cyber-related interest, as well as descriptive interpretative analysis of interview data. We found the online learning format was more effective than the hybrid format for the affective and cognitive outcomes. Qualitative findings suggested pedagogical concerns and struggle with online learning due to emergency remote teaching during the COVID-19 pandemic, centered around a lack of student engagement and interaction that appropriate levels of training and practice could remedy. Implications and future research suggestions are discussed. (PsycInfo Database Record (c) 2022 APA, all rights reserved)

The show must go on: proposals to measure the economic value of Grassroots Music Venues

The impacts of the COVID-19 pandemic on private grassroots music venues (GMVs) increased the difficulties in their business model, showing the vulnerability of their economic sustainability. This paper proposes ways to measure the economic value of GMVs in the city of Rio de Janeiro (RJ), Brazil, seeking to highlight the important role of such venues and of public and private support for their maintenance. To this end, an online survey was applied to 180 GMVs goers and 188 non-goers, based on the contingent valuation method. The data shows GMVs play an important role within the musical ecosystem and generate positive externalities for the city. Both goers and non-goers tend to understand this importance and identify GMVs as businesses that generate cultural and economic value for the city, showing a non-use value of the good. [ABSTRACT FROM AUTHOR] Copyright of Cultural Trends is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Digital Money & Central Bank Digital Currency (CBDC) – New Opportunity, New Challenge

The power of new technology may, nevertheless, now lead to a fundamental restructuring of banking and financial markets themselves, particularly with the emergence of new private and public digital coins and digital market platforms.1 Markets have been subject to massive continuing changes and advances, which have substantially reformed banking and financial services and products.2 Centrally controlled government, or central bank, markets can now enjoy the technological capability to replace more traditional legacy private markets and services.3 The advent of digital systems has had a major impact on all aspects of banking and finance. Almost 30,000 private digital coins have since been created.9 The value of this market exceeded $1 trillion in the first quarter of 2021 and then grew to $2.06 trillion later in the year.10 Similarly, the valuation of large technology firms, such as BigTech leaders, including Apple and Microsoft, also rose to over $2 trillion.11 While the value of these coins has suffered from substantial variability and volatility, this suffering can be limited or managed through the use of stablecoins, which tie their value to another cryptocurrency, fiat currency, or commodity, with the most notable example being Facebook's Libra coin (now known as Diem), which was launched in June 2019.12 New forms of digital payment systems have also emerged, with over three billion account holders now using different forms of payment applications and electronic wallets.13 Private "CoinTech" has then evolved in competition with PayTech and other forms of financial technology (FinTech) applications (AppTech), including decentralised finance (DeFi), decentralised exchanges (DEXs), and most recently non-fungible tokens (NFTs).14 The most dramatic innovation within these markets may, nevertheless, be the adoption of new forms of official central bank digital currency (CBDC) or digital government coin (GovCoin or StateCoin).15 This has been referred to as the "new incarnation of money," which could lead to a major switch in power from individuals to the state, geopolitical disruption, and adjustment of capital allocation.16 This has to be treated with a combination of "optimism[ ] and humility," with central banks described as moving from being "the aristocrats of finance to its labourers. Central banks had to support the financial system over a decade ago in the wreckage of the global financial crisis beginning in 2008-2009 and then following the coronavirus crisis in 2020-2021.24 This intervention could be taken further forward with central banks effectively nationalising private money and banking systems through a process of highly centralised technological transformation and metamorphosis.25 This could be partly driven by efficiency and stability arguments and accompanied by a decline in physical coin and banknote use, although probably more simply due to the potential perceived loss of control over markets and market function and stability either to private operators or other governments that could otherwise ensue.26 This could result in fundamental change and adjustment. Metal coinage was introduced with the Lydian Stater around 650 BC, which was made from an alloy of gold and silver, with a large number of different types of metal coinage having been created subsequently, especially in new Greek city-states.33 The Persians would introduce gold Darics and silver Sigloi, with the Romans developing the gold Aureus, silver Denarius, and copper Sestertius.34 The Chinese created early forms of knife and tool coins around 1,122-221 BC during the Zhou dynasty,35 with later paper Feiqian (618-907), or "flying cash," during the Tang dynasty,36 and Jiaozi notes (960-1279) during the Song Dynasty.37 The Carolingian Pound was introduced around 742-814 by Charlemagne or Charles the Great (748814).38 The English silver penny and pound sterling date from around 757796.39 The Florence Florin and the Venetian Ducal were introduced around 1252 and 1284.40 The Spanish Real and Peso date from 1350 and 1366.41 The Dutch Guilder and then Thaler, Mark, and Franc emerged between 1252 and 1360.42 The United States dollar was created between 1776 and 1792,43 with the European Euro between 1999 and 2 002.44 The modern Chinese Renminbi dates from 1948.45 Aristotle explained the functions of money in terms of acting as a unit of account, medium of exchange, and store of value, which has remained the principal formulation in economics over time.46 Aristotle, nevertheless, separately highlighted the importance of valuation in his Nicomachean Ethics.41 The two core functions of money, for the purposes of this text, are restated in terms of valuation and value, with care having to be exercised in considering the three economic functions of money in law.48 This division is also reflected in Joseph Schumpeter's distinction between money acting as both a mensuratum (means of measurement) and mensura (the thing measured).49 Because money is a universal item of financial value, the principal uses or applications of money can be explained in terms of valuation, savings or deposit, lending or credit, payment or exchange, investment or return, and risk or loss management.50 A massive edifice of writing has subsequently been erected to examine the subject of money over

COVID-19 and EQ-5D-5L health state valuation.

BACKGROUND: We investigate whether and how general population health state values were influenced by the initial stages of the COVID-19 pandemic. Changes could have important implications, as general population values are used in health resource allocation. DATA: In Spring 2020, participants in a UK general population survey rated 2 EQ-5D-5L states, 11111 and 55555, as well as dead, using a visual analogue scale (VAS) from 100 = best imaginable health to 0 = worst imaginable health. Participants answered questions about their pandemic experiences, including COVID-19's effect on their health and quality of life, and their subjective risk/worry about infection. ANALYSIS: VAS ratings for 55555 were transformed to the full health = 1, dead = 0 scale. Tobit models were used to analyse VAS responses, as well as multinomial propensity score matching (MNPS) to create samples balanced according to participant characteristics. RESULTS: Of 3021 respondents, 2599 were used for analysis. There were statistically significant, but complex associations between experiences of COVID-19 and VAS ratings. For example, in the MNPS analysis, greater subjective risk of infection implied higher VAS ratings for dead, yet worry about infection implied lower ratings. In the Tobit analysis, people whose health was affected by COVID-19 rated 55555 higher, whether the effect on health was positive or negative. CONCLUSION: The results complement previous findings that the onset of the COVID-19 pandemic may have impacted EQ-5D-5L health state valuation, and different aspects of the pandemic had different effects.