publication . Article . 2021

Rational Policymaking during a Pandemic

Loïc Berger; Nicolas Berger; Valentina Bosetti; Itzhak Gilboa; Lars Peter Hansen; Christopher I Jarvis; Massimo Marinacci; Richard D. Smith;
Open Access English
  • Published: 20 Jan 2021
  • Publisher: HAL CCSD
Abstract
International audience; 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.
Persistent Identifiers
Fields of Science and Technology classification (FOS)
03 medical and health sciences, 0302 clinical medicine, 030212 general & internal medicine, 05 social sciences, 0502 economics and business, 050207 economics
Sustainable Development Goals (SDG)
13. Climate action, 16. Peace & justice
Subjects
free text keywords: model uncertainty, ambiguity, robustness, decision rules, [QFIN.RM]Quantitative Finance [q-fin]/Risk Management [q-fin.RM], [SDV.MHEP.MI]Life Sciences [q-bio]/Human health and pathology/Infectious diseases, [SHS]Humanities and Social Sciences, Multidisciplinary, 535, Perspective, Biological Sciences, Immunology and Inflammation, Social Sciences, Economic Sciences, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, decision rules JEL Classification: D81, I18, D81, RATIONAL POLICYMAKING, PANDEMIC, DECISION UNDER UNCERTAINTY, ambiguity;model uncertainty;robustness, model uncertainty;ambiguity;robustness;decision rules, Context (language use), Robustness (economics), Decision theory, Health policy, Process (engineering), Political economy, Pandemic, Ambiguity, media_common.quotation_subject, media_common, Political science, Decision rule
Communities
  • COVID-19
Funded by
EC| INDIMACRO
Project
INDIMACRO
Individual decisions and macroeconomic robustness
  • Funder: European Commission (EC)
  • Project Code: 670337
  • Funding stream: H2020 | ERC | ERC-ADG
Validated by funder
,
ANR| INDUCED
Project
INDUCED
Integrating Deep Uncertainty in Climate Change Modelling
  • Funder: French National Research Agency (ANR) (ANR)
  • Project Code: ANR-17-CE03-0008
,
ANR| ECODEC
Project
ECODEC
Réguler l'économie au service de la société
  • Funder: French National Research Agency (ANR) (ANR)
  • Project Code: ANR-11-LABX-0047
,
ANR| IPS
Project
IPS
Idex Paris-Saclay
  • Funder: French National Research Agency (ANR) (ANR)
  • Project Code: ANR-11-IDEX-0003
,
EC| RISICO
Project
RISICO
RISk and uncertainty in developing and Implementing Climate change pOlicies
  • Funder: European Commission (EC)
  • Project Code: 336703
  • Funding stream: FP7 | SP2 | ERC
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