The Fight Against COVID-19: The Gap Between Epidemiologic and Economic Approaches

Jean Philippe Platteau; Shlomo Weber; Hans Wiesmeth

doi:10.1007/978-3-031-05946-9_22

The Fight Against COVID-19: The Gap Between Epidemiologic and Economic Approaches

Jean Philippe Platteau, Shlomo Weber^*, Hans Wiesmeth

^*Corresponding author for this work

Research output: Chapter in Book/Conference Proceeding/Report › Book Chapter › peer-review

3 Citations (Scopus)

Abstract

Epidemiologists use certain models (SIR or SEIR models, for example) to describe the natural evolution of an epidemic or a pandemic. The parameters of these models are based on various assumptions regarding biological and social key parameters. In contrast to this approach, economists consider human actions as the outcome of optimizing behavior based on private costs, benefits, and beliefs, which are especially important for identifying vaccination strategies. The corresponding literature can be divided into two types depending on whether individuals are assumed to operate freely in a decentralized manner or are subject to the public prescriptions of a central decision-maker acting as a benevolent social planner. This paper explores this literature and provides various examples showing, in particular, that this economic approach can help to explain part of the difference between the number of confirmed COVID-19 infections and the number predicted by epidemiological models.

Original language	English
Title of host publication	Diffusive Spreading in Nature, Technology and Society, Second Edition
Publisher	Springer International Publishing
Pages	453-471
Number of pages	19
ISBN (Electronic)	9783031059469
ISBN (Print)	9783031059452
DOIs	https://doi.org/10.1007/978-3-031-05946-9_22
Publication status	Published - 1 Jan 2023
Externally published	Yes

Bibliographical note

Publisher Copyright:
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022.

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 3 Good Health and Well-being

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10.1007/978-3-031-05946-9_22

Cite this

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The Fight Against COVID-19: The Gap Between Epidemiologic and Economic Approaches

Abstract

Bibliographical note

UN SDGs

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