Arbeitspapier
A complementary micro Coronavirus model under uncertainty and utility
A micro decision-making utility model under uncertainty is presented as a complementary foundation for macro coronavirus models. The micro model consists of two functions, a risk averse utility function depending on wellness and a wellness random output which is a function of the input variable called "treatment" consisting of such elements as social distance, washing hands, wearing a face mask, and others. The decision maker selects a level of treatment that maximizes her/his expected utility, given the probabilities of the respective outputs. The focus is on how changes in a person's psychological attitude towards the macro determined (announced) probabilities affects the optimum results of the model. Such changes create a micro-macro dynamic interaction which is briefly outlined. A short discussion of the model's behavioral implications for health policy is also given.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2020-03
- Klassifikation
-
Wirtschaft
Mathematical Methods
Optimization Techniques; Programming Models; Dynamic Analysis
Consumer Economics: Theory
Production and Organizations: General
Criteria for Decision-Making under Risk and Uncertainty
Expectations; Speculations
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Health: Government Policy; Regulation; Public Health
- Thema
-
Utility
Uncertainty
Risk Averse
Wellness Output
Treatment Inputs
Coronavirus
Psychological Risk Attitude
and Dynamic Interactions
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gander, James P.
- Ereignis
-
Veröffentlichung
- (wer)
-
The University of Utah, Department of Economics
- (wo)
-
Salt Lake City, UT
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Gander, James P.
- The University of Utah, Department of Economics
Entstanden
- 2020
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