Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/245942 
Year of Publication: 
2021
Series/Report no.: 
IFRO Working Paper No. 2021/08
Publisher: 
University of Copenhagen, Department of Food and Resource Economics (IFRO), Copenhagen
Abstract: 
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.)
Subjects: 
Infectious disease
economic regulation
Golden Rule
compartment models
JEL: 
C54
D62
I18
L51
Document Type: 
Working Paper

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