Lockdowns as options

Sweder van Wijnbergen

Economics Letters, 2022, vol. 214, issue C

Abstract: The irreversibility of dying coupled with gradual information acquisition over time on the likely arrival and eventual effectiveness of vaccines confers a real option value to lockdown strategies that delay the incidence of pandemics given a stochastic vaccine arrival/effectiveness process.

Keywords: Pandemic dynamics; Stochastic vaccination arrival information; Irreversibility; Lockdowns; Real options (search for similar items in EconPapers)
JEL-codes: G12 G13 G18 (search for similar items in EconPapers)
Date: 2022
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Working Paper: Lockdowns as options (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:214:y:2022:i:c:s0165176522000829

DOI: 10.1016/j.econlet.2022.110420

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