“…We find that, on average, a higher sentiment score is associated with higher perceived returns, particularly for play with friends; on the other hand, we do not find any systematic relationship between the sentiment score and perceived risks (Appendix Table B8). 23 This result aligns well with recent evidence on the key role of parental mental well-being in explaining investment decisions in children (Baranov, Bhalotra, Biroli, and Maselko (2020)), and is consistent with research in clinical psychology showing that, by distorting beliefs, mental health can affect the way people think and behave (Gotlib 22 Concerns about the child social development are not uncommon: for example, Byrne et al (2022) document worsening social communication skills in children born during the lockdown as compared to a historical cohort in Ireland, on the basis of parental reports; Hughes et al (2023) find that children with siblings are able to adjust better to lockdown restrictions. 23 The table report results by terciles of the empirical distribution of the sentiment score.…”