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Publication . Article . 2021

Rational policymaking during a pandemic

Loïc Berger; Nicolas Berger; Valentina Bosetti; Itzhak Gilboa; Lars Peter Hansen; Christopher I Jarvis; Massimo Marinacci; +1 Authors
Open Access
Published: 20 Jan 2021 Journal: Proceedings of the National Academy of Sciences (issn: 0027-8424, eissn: 1091-6490, Copyright policy )
Publisher: Proceedings of the National Academy of Sciences

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.

Subjects by Vocabulary

Microsoft Academic Graph classification: Context (language use) Ambiguity media_common.quotation_subject media_common Pandemic Decision rule Process (engineering) Political science Political economy Health policy Decision theory Robustness (economics)


Multidisciplinary, ambiguity, model uncertainty, robustness, [SHS]Humanities and Social Sciences, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, 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, decision rules JEL Classification: D81, I18, D81, ambiguity;model uncertainty;robustness, 535, Perspective, Biological Sciences, Immunology and Inflammation, Social Sciences, Economic Sciences, COVID-19, Health Policy, Humans, Models, Theoretical, Pandemics, Policy Making, Quarantine, Schools, Uncertainty, RATIONAL POLICYMAKING, PANDEMIC, DECISION UNDER UNCERTAINTY, RATIONAL POLICYMAKING, PANDEMIC, DECISION UNDER UNCERTAINTY

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Réguler l'économie au service de la société
  • Funder: French National Research Agency (ANR) (ANR)
  • Project Code: ANR-11-LABX-0047
Idex Paris-Saclay
  • Funder: French National Research Agency (ANR) (ANR)
  • Project Code: ANR-11-IDEX-0003
RISk and uncertainty in developing and Implementing Climate change pOlicies
  • Funder: European Commission (EC)
  • Project Code: 336703
  • Funding stream: FP7 | SP2 | ERC
Individual decisions and macroeconomic robustness
  • Funder: European Commission (EC)
  • Project Code: 670337
  • Funding stream: H2020 | ERC | ERC-ADG
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Article . 2021
Data sources: PubMed Central