Rational policymaking during a pandemic

Loïc Berger, Nicolas Berger (), Valentina Bosetti, Itzhak Gilboa, Lars Hansen, Christopher Jarvis (), Massimo Marinacci and Richard D. Smith ()
Additional contact information
Nicolas Berger: Faculty of Public Health and Policy, London School of Hygiene & Tropical Medicine, WC1H 9SH, London, UK; Sciensano (Belgian Scientific Institute of Public Health), 1050 Brussels, Belgium
Christopher Jarvis: Department of Infectious Disease Epidemiology, London School of Hygiene & Tropical Medicine, WC1E 7HT, London, UK
Richard D. Smith: Faculty of Public Health and Policy, London School of Hygiene & Tropical Medicine, WC1H 9SH, London, UK; College of Medicine and Health, University of Exeter, Exeter, EX1 2LU, UK

Working Papers from IESEG School of Management

Abstract: Policymaking during a pandemic can be extremely challenging. As COVID-19 is a new disease and its global impacts are unprecedented, decisions are taken 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 a more responsible and transparent process.

Keywords: model uncertainty; ambiguity; robustness; decision rules (search for similar items in EconPapers)
JEL-codes: D81 I18 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2020-11
New Economics Papers: this item is included in nep-mic and nep-upt
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Citations: View citations in EconPapers (3)

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Related works:
Working Paper: Rational Policymaking during a Pandemic (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:ies:wpaper:e202008

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