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

School of Economics

Tel Aviv University

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

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

Keywords

Ambiguity
Model uncertainty
Robustness

All Science Journal Classification (ASJC) codes

General

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10.1073/pnas.2012704118

Cite this

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AU - Berger, Nicolas

AU - Bosetti, Valentina

AU - Gilboa, Itzhak

AU - Hansen, Lars Peter

AU - Jarvis, Christopher

AU - Marinacci, Massimo

AU - Smith, Richard D.

PY - 2021/1/26

Y1 - 2021/1/26

N2 - 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.

AB - 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.

KW - Ambiguity

KW - Model uncertainty

KW - Robustness

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U2 - 10.1073/pnas.2012704118

DO - 10.1073/pnas.2012704118

M3 - مقالة مرجعية

C2 - 33472971

SN - 0027-8424

VL - 118

JO - Proceedings of the National Academy of Sciences of the United States of America

JF - Proceedings of the National Academy of Sciences of the United States of America

IS - 4

M1 - e2012704118

ER -

Rational policymaking during a pandemic

Abstract

Keywords

All Science Journal Classification (ASJC) codes

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