TY - UNPB

T1 - Searching for a “Golden Rule” of economic regulation of an infectious disease

AU - Amundsen, Eirik S.

PY - 2021

Y1 - 2021

N2 - This paper investigates whether a “Golden Rule” of regulation of an infectious disease may be elicited that balances the economic control and disease costs when the arrival of a future vaccine or a cure is uncertain. Formulating an optimal control problem applied to standard compartment models of infection, an optimality rule is derived. This rule is more complex than other similar Golden Rules related to optimal economic growth or extraction of natural resources. The paper contains interpretation of the derived rule and numeric examples of how the rule functions under the compartment models (i.e., the SI, the SIS, and the SIR models.)

AB - This paper investigates whether a “Golden Rule” of regulation of an infectious disease may be elicited that balances the economic control and disease costs when the arrival of a future vaccine or a cure is uncertain. Formulating an optimal control problem applied to standard compartment models of infection, an optimality rule is derived. This rule is more complex than other similar Golden Rules related to optimal economic growth or extraction of natural resources. The paper contains interpretation of the derived rule and numeric examples of how the rule functions under the compartment models (i.e., the SI, the SIS, and the SIR models.)

M3 - Working paper

T3 - IFRO Working Paper

BT - Searching for a “Golden Rule” of economic regulation of an infectious disease

PB - Department of Food and Resource Economics, University of Copenhagen

ER -