About: This paper develops a Nash-equilibrium extension of the classic SIR model of infectious-disease epidemiology (%22Nash SIR%22), endogenizing people's decisions whether to engage in economic activity during a viral epidemic and allowing for complementarity in social-economic activity. An equilibrium epidemic is one in which Nash equilibrium behavior during the epidemic generates the epidemic. There may be multiple equilibrium epidemics, in which case the epidemic trajectory can be shaped through the coordination of expectations, in addition to other sorts of interventions such as stay-at-home orders and accelerated vaccine development. An algorithm is provided to compute all equilibrium epidemics.   Goto Sponge  NotDistinct  Permalink

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  • This paper develops a Nash-equilibrium extension of the classic SIR model of infectious-disease epidemiology (%22Nash SIR%22), endogenizing people's decisions whether to engage in economic activity during a viral epidemic and allowing for complementarity in social-economic activity. An equilibrium epidemic is one in which Nash equilibrium behavior during the epidemic generates the epidemic. There may be multiple equilibrium epidemics, in which case the epidemic trajectory can be shaped through the coordination of expectations, in addition to other sorts of interventions such as stay-at-home orders and accelerated vaccine development. An algorithm is provided to compute all equilibrium epidemics.
Subject
  • Virology
  • Epidemics
  • Biological hazards
  • Environmental social science
  • Market structure
  • Mathematical and quantitative methods (economics)
  • Market (economics)
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