"AN ANAYTICAL STUDY ON PELTZMAN EFFECT_IN LIEU TO ARISING COVID 19 SITUATION WITH SPECIAL REFERENCE TO VASAI VIRAR CITY"

Abstract

In this study, the researcher has tried to identify the gap between the increasing number of covid cases despite being vaccinated. We have seen from starting Dec 2019 how Covid 19 has created havoc across the globe. Now since a year is down from 2020 to 2021, the pandemic is still here but scenarios are different i.e. In First Scenario, There was no vaccine and structure of the virus due to which people were taking safety measures seriously. In Second Scenario, There is a vaccine available with a variant of effectiveness from 60% to 95%. Also in late 2020 China helped the Globe in understanding the Structure of the Virus since these crucial things are available this made people around the globe habitual to risk compensation which as a result ended up with occurrence of the second wave which is more dangerous than the First wave as now virus comes with new variant making it more complex to heal patients. The above Risk Compensation concept is nothing but a popular theory laid by An Economist named Sam Peltzman, who identified it for the first time in 1975. “When safety measures are mandated, people's perceptions of risk are reduced, leading them to make riskier decisions, according to the theory.” The outcome of this research would be identifying how true it is to term Ongoing scenario with Peltzman effect, whether this effect is the link to covid 19 scenarios or not which is reason to soaring new covid 19 cases.