Rational Policymaking during a Pandemic

Loïc Berger, Nicolas Berger (), Valentina Bosetti, Itzhak Gilboa, Lars Hansen, Christopher Jarvis (), Massimo Marinacci and Richard Smith ()
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Nicolas Berger: LSHTM - London School of Hygiene and Tropical Medicine
Christopher Jarvis: LSHTM - London School of Hygiene and Tropical Medicine
Richard Smith: University of Exeter Medical School - University of Exeter

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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)
Date: 2021-01-26
New Economics Papers: this item is included in nep-hea
Note: View the original document on HAL open archive server: https://hal.science/hal-02907328v3
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Citations: View citations in EconPapers (8)

Published in Proceedings of the National Academy of Sciences of the United States of America, 2021

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Working Paper: Rational policymaking during a pandemic (2020)
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