Behavioral Economics in the Epidemiology of the COVID-19 Pandemic: Theory and Simulations

Author:

Marin-Lopez Blas A.,Jimenez-Gomez DavidORCID,Abellán-Perpiñán José-MaríaORCID

Abstract

We provide a game-theoretical epidemiological model for the COVID-19 pandemic that takes into account that: (1) asymptomatic individuals can be contagious, (2) contagion is behavior-dependent, (3) behavior is determined by a game that depends on beliefs and social interactions, (4) there can be systematic biases in the perceptions and beliefs about the pandemic. We incorporate lockdown decisions by the government into the model. The citizens’ and government’s beliefs can exhibit several biases that we discuss from the point of view of behavioral economics. We provide simulations to understand the effect of lockdown decisions and the possibility of “nudging” citizens in the right direction by improving the accuracy of their beliefs.

Publisher

MDPI AG

Subject

Health, Toxicology and Mutagenesis,Public Health, Environmental and Occupational Health

Reference73 articles.

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