Uncertainty and Decision-Making During a Crisis: How to Make Policy Decisions in the COVID-19 Context?

Loïc Berger (), Nicolas Berger (), Valentina Bosetti, Itzhak Gilboa, Lars Hansen, Christopher Jarvis (), Massimo Marinacci and Richard Smith ()
Additional contact information
Loïc Berger: University of Lille - IESES School of Management; CNRS; RFF-CMCC European Institute on Economics and the Environment
Nicolas Berger: London School of Hygiene and Tropical Medicine - Faculty of Public Health and Policy; Sciensano
Christopher Jarvis: London School of Hygiene and Tropical Medicine - Department of Infectious Disease Epidemiology
Richard Smith: University of Exeter - College of Medicine and Health; London School of Hygiene and Tropical Medicine - Faculty of Public Health and Policy
Authors registered in the RePEc Author Service: Loïc Berger

No 2020-95, Working Papers from Becker Friedman Institute for Research In Economics

Abstract: Policymaking during a pandemic can be extremely challenging. As COVID-19 is a new disease and its global impacts are unprecedented, decisions need to be made in a highly uncertain, complex and rapidly changing environment. In such a context, in which human lives and the economy are at stake, we argue that using ideas and constructs from modern decision theory, even informally, will make policymaking more a responsible and transparent process.

Keywords: Model uncertainty; ambiguity; robustness; decision rules (search for similar items in EconPapers)
Pages: 31 pages
Date: 2020
New Economics Papers: this item is included in nep-hea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://repec.bfi.uchicago.edu/RePEc/pdfs/BFI_WP_202095.pdf (application/pdf)

Related works:
Working Paper: Uncertainty and decision-making during a crisis: How to make policy decisions in the COVID-19 context? (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bfi:wpaper:2020-95

Access Statistics for this paper

More papers in Working Papers from Becker Friedman Institute for Research In Economics Contact information at EDIRC.
Bibliographic data for series maintained by Toni Shears ( this e-mail address is bad, please contact ).