Rational policymaking during a pandemic

Loïc Berger; Nicolas Berger; Valentina Bosetti; Itzhak Gilboa; Lars Peter Hansen; Christopher Jarvis; Massimo Marinacci; Richard D. Smith

doi:10.1073/pnas.2012704118

Rational policymaking during a pandemic

Loïc Berger^*, Nicolas Berger, Valentina Bosetti, Itzhak Gilboa, Lars Peter Hansen^*, Christopher Jarvis, Massimo Marinacci, Richard D. Smith

^*Corresponding author for this work

School of Economics

Research output: Contribution to journal › Review article › peer-review

61 Scopus citations

Abstract

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.

Original language	English
Article number	e2012704118
Journal	Proceedings of the National Academy of Sciences of the United States of America
Volume	118
Issue number	4
DOIs	https://doi.org/10.1073/pnas.2012704118
State	Published - 26 Jan 2021

Funding

Funders	Funder number
AXA Chairs for Decision Sciences
Foerder Institute at Tel-Aviv University
Alfred P. Sloan Foundation	G-2018-11113
Alfred P. Sloan Foundation
Seventh Framework Programme	FP7-2007-2013, 336703, 670337
Seventh Framework Programme
European Research Council
Agence Nationale de la Recherche	ANR-11-LABX-0047, ANR-17-CE03-0008-01, ANR-11-IDEX-0003
Agence Nationale de la Recherche
Israel Science Foundation	1077/17
Israel Science Foundation
Higher Education Commission, Pakistan
Seventh Framework Programme
Università Bocconi
Horizon 2020

Keywords

Ambiguity
Model uncertainty
Robustness

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10.1073/pnas.2012704118

Cite this

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AU - Gilboa, Itzhak

AU - Hansen, Lars Peter

AU - Jarvis, Christopher

AU - Marinacci, Massimo

AU - Smith, Richard D.

PY - 2021/1/26

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KW - Robustness

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Rational policymaking during a pandemic

Abstract

Funding

Keywords

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