Willingness to pay to escape COVID-19 related social restrictions

ABSTRACT

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.