Abstract
The current COVID-19 pandemic has created an unprecedented hostile psychological environment for individuals. Against the backdrop of this exogenous shock and applying a Cumulative Prospect Theory framework, we examined a relationship between risk-taking, trait resilience, and state anxiety, wherein age moderates the relationship between trait resilience and risk-taking, on state anxiety during the pandemic. We assess risk-taking using a behavioral measure and assess trait anxiety, big five personality traits, and other demographic factors in a sample of 515 individuals in the United States. Regression analysis revealed that age moderates the relationship between risk-taking and state anxiety and that highly resilient, risk-tolerant individuals experience lower state anxiety than less resilient risk-averse individuals. In contrast, older, more resilient, risk-averse individuals experience lower state anxiety than their younger, more resilient, risk-averse counterparts. Study limitations are noted, and additional research is suggested.
Highlights
COVID-19 and the subsequent worldwide pandemic have created an unprecedented hostile psychological environment, and the adverse mental health effects of the virus likely will continue for some time to come
We focus on the relationship between state anxiety and the interaction of trait resilience and risk-taking behavior while examining a moderating effect of age
In keeping with the findings of Macatee et al (2015), we find that risk-taking behavior and trait resilience serve as two possible key characteristics as they significantly predict experienced state anxiety
Summary
COVID-19 and the subsequent worldwide pandemic have created an unprecedented hostile psychological environment, and the adverse mental health effects of the virus likely will continue for some time to come. Existing research already suggests that the current pandemic COVID-19 and similar outbreaks have resulted in high levels of “schizophrenia, anxiety, depression, and acute stress disorder among both the healthcare personnel and the public” as a result of the virus and its economic and psychological implications (Arpaci, Karatas, & Baloglu, 2020, p.1). Have heightened physical risks resulted in more significant mental health effects on older individuals? We examine possible traits and individual differences, such as trait resil ience, to understand how those differences help mitigate pandemics’ impact. We outline a set of hy potheses based on Cumulative Prospect Theory (Tversky & Kahneman, 1992) and discuss findings and implications
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