Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 14, 2023 erstellt
Beschreibung:
We conduct a survey, on the eve of the 2020 presidential election, of over 3,000 highly experienced and affluent investors about the COVID-19 cases among their social contacts, their political leanings, and expectations. Due to the saturating media coverage on the pandemic at the time of our survey, infection cases among social contacts provide little additional information but are strongly associated with their expectations across domains, ranging from public health, politics, to the macroeconomy. Moreover, those expectations are also fundamentally shaped by their political leanings. We argue that these two seemingly unrelated phenomena arise naturally in a memory-based belief-formation framework