IDEAS home Printed from https://ideas.repec.org/a/gam/jijerp/v18y2021i2p724-d481216.html
   My bibliography  Save this article

Controlling COVID-19 Outbreaks with Financial Incentives

Author

Listed:
  • Chaeyoung Lee

    (Department of Mathematics, Korea University, Seoul 02841, Korea)

  • Soobin Kwak

    (Department of Mathematics, Korea University, Seoul 02841, Korea)

  • Junseok Kim

    (Department of Mathematics, Korea University, Seoul 02841, Korea)

Abstract

In this paper, we consider controlling coronavirus disease 2019 (COVID-19) outbreaks with financial incentives. We use the recently developed susceptible-unidentified infected-confirmed (SUC) epidemic model. The unidentified infected population is defined as the infected people who are not yet identified and isolated and can spread the disease to susceptible individuals. It is important to quickly identify and isolate infected people among the unidentified infected population to prevent the infectious disease from spreading. Considering financial incentives as a strategy to control the spread of disease, we predict the effect of the strategy through a mathematical model. Although incentive costs are required, the duration of the disease can be shortened. First, we estimate the unidentified infected cases of COVID-19 in South Korea using the SUC model, and compute two parameters such as the disease transmission rate and the inverse of the average time for confirming infected individuals. We assume that when financial incentives are provided, there are changes in the proportion of confirmed patients out of unidentified infected people in the SUC model. We evaluate the numbers of confirmed and unidentified infected cases with respect to one parameter while fixing the other estimated parameters. We investigate the effect of the incentives on the termination time of the spread of the disease. The larger the incentive budget is, the faster the epidemic will end. Therefore, financial incentives can have the advantage of reducing the total cost required to prevent the spread of the disease, treat confirmed patients, and recover overall economic losses.

Suggested Citation

  • Chaeyoung Lee & Soobin Kwak & Junseok Kim, 2021. "Controlling COVID-19 Outbreaks with Financial Incentives," IJERPH, MDPI, vol. 18(2), pages 1-13, January.
    • Handle: RePEc:gam:jijerp:v:18:y:2021:i:2:p:724-:d:481216
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1660-4601/18/2/724/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1660-4601/18/2/724/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kefan Xie & Benbu Liang & Maxim A. Dulebenets & Yanlan Mei, 2020. "The Impact of Risk Perception on Social Distancing during the COVID-19 Pandemic in China," IJERPH, MDPI, vol. 17(17), pages 1-17, August.
    2. Gabriel Chamie & Alex Ndyabakira & Kara G Marson & Devy M Emperador & Moses R Kamya & Diane V Havlir & Dalsone Kwarisiima & Harsha Thirumurthy, 2020. "A pilot randomized trial of incentive strategies to promote HIV retesting in rural Uganda," PLOS ONE, Public Library of Science, vol. 15(5), pages 1-10, May.
    3. Yanli Ma & Jia-Bao Liu & Haixia Li, 2018. "Global Dynamics of an SIQR Model with Vaccination and Elimination Hybrid Strategies," Mathematics, MDPI, vol. 6(12), pages 1-12, December.
    4. Shaden A. M. Khalifa & Briksam S. Mohamed & Mohamed H. Elashal & Ming Du & Zhiming Guo & Chao Zhao & Syed Ghulam Musharraf & Mohammad H. Boskabady & Haged H. R. El-Seedi & Thomas Efferth & Hesham R. E, 2020. "Comprehensive Overview on Multiple Strategies Fighting COVID-19," IJERPH, MDPI, vol. 17(16), pages 1-13, August.
    5. Khan, Muhammad Altaf & Khan, Yasir & Islam, Saeed, 2018. "Complex dynamics of an SEIR epidemic model with saturated incidence rate and treatment," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 493(C), pages 210-227.
    6. Han, Dun & Shao, Qi & Li, Dandan & Sun, Mei, 2020. "How the individuals’ risk aversion affect the epidemic spreading," Applied Mathematics and Computation, Elsevier, vol. 369(C).
    7. Lee, Chaeyoung & Li, Yibao & Kim, Junseok, 2020. "The susceptible-unidentified infected-confirmed (SUC) epidemic model for estimating unidentified infected population for COVID-19," Chaos, Solitons & Fractals, Elsevier, vol. 139(C).
    8. Bui Thi Thu Ha & La Ngoc Quang & Tolib Mirzoev & Nguyen Trong Tai & Pham Quang Thai & Phung Cong Dinh, 2020. "Combating the COVID-19 Epidemic: Experiences from Vietnam," IJERPH, MDPI, vol. 17(9), pages 1-7, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fathey Mohammed & Nabil Hasan Al-Kumaim & Ahmed Ibrahim Alzahrani & Yousef Fazea, 2023. "The Impact of Social Media Shared Health Content on Protective Behavior against COVID-19," IJERPH, MDPI, vol. 20(3), pages 1-16, January.
    2. Gabriel Hoh Teck Ling & Nur Amiera binti Md Suhud & Pau Chung Leng & Lee Bak Yeo & Chin Tiong Cheng & Mohd Hamdan Haji Ahmad & Ak Mohd Rafiq Ak Matusin, 2021. "Factors Influencing Asia-Pacific Countries’ Success Level in Curbing COVID-19: A Review Using a Social–Ecological System (SES) Framework," IJERPH, MDPI, vol. 18(4), pages 1-27, February.
    3. Huang, He & Chen, Yahong & Ma, Yefeng, 2021. "Modeling the competitive diffusions of rumor and knowledge and the impacts on epidemic spreading," Applied Mathematics and Computation, Elsevier, vol. 388(C).
    4. Ha Thi Thu Bui & Duc Minh Duong & Thanh Quoc Pham & Tolib Mirzoev & Anh Thi My Bui & Quang Ngoc La, 2021. "COVID-19 Stressors on Migrant Workers in Vietnam: Cumulative Risk Consideration," IJERPH, MDPI, vol. 18(16), pages 1-15, August.
    5. Jia, Pingqi & Wang, Chao & Zhang, Gaoyu & Ma, Jianfeng, 2019. "A rumor spreading model based on two propagation channels in social networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 524(C), pages 342-353.
    6. Sabrina Cipolletta & Gabriela Rios Andreghetti & Giovanna Mioni, 2022. "Risk Perception towards COVID-19: A Systematic Review and Qualitative Synthesis," IJERPH, MDPI, vol. 19(8), pages 1-25, April.
    7. Wei, Xiaodan & Zhao, Xu & Zhou, Wenshu, 2022. "Global stability of a network-based SIS epidemic model with a saturated treatment function," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 597(C).
    8. Jina Choo & Sooyeon Park & Songwhi Noh, 2021. "Associations of COVID-19 Knowledge and Risk Perception with the Full Adoption of Preventive Behaviors in Seoul," IJERPH, MDPI, vol. 18(22), pages 1-14, November.
    9. Halet Ismail & Amar Debbouche & Soundararajan Hariharan & Lingeshwaran Shangerganesh & Stanislava V. Kashtanova, 2024. "Stability and Optimality Criteria for an SVIR Epidemic Model with Numerical Simulation," Mathematics, MDPI, vol. 12(20), pages 1-29, October.
    10. Shu Chen & Lei Guo & Taghred Alghaith & Di Dong & Mohammed Alluhidan & Mariam M. Hamza & Christopher H. Herbst & Xinqi Zhang & Gabrielle Charis Alano Tagtag & Yi Zhang & Nahar Alazemi & Rana Saber & R, 2021. "Effective COVID-19 Control: A Comparative Analysis of the Stringency and Timeliness of Government Responses in Asia," IJERPH, MDPI, vol. 18(16), pages 1-19, August.
    11. Teng Zhao, 2022. "Impact of COVID-19 Awareness on Protective Behaviors during the Off-Peak Period: Sex Differences among Chinese Undergraduates," IJERPH, MDPI, vol. 19(20), pages 1-11, October.
    12. Tuyen Dinh Hoang & Robert Colebunders & Joseph Nelson Siewe Fodjo & Nhan Phuc Thanh Nguyen & Trung Dinh Tran & Thang Van Vo, 2021. "Well-Being of Healthcare Workers and the General Public during the COVID-19 Pandemic in Vietnam: An Online Survey," IJERPH, MDPI, vol. 18(9), pages 1-10, April.
    13. Munir Ahmad & Nadeem Akhtar & Gul Jabeen & Muhammad Irfan & Muhammad Khalid Anser & Haitao Wu & Cem Işık, 2021. "Intention-Based Critical Factors Affecting Willingness to Adopt Novel Coronavirus Prevention in Pakistan: Implications for Future Pandemics," IJERPH, MDPI, vol. 18(11), pages 1-28, June.
    14. Chiara Achangwa & Tae-Jun Lee & Moo-Sik Lee, 2021. "Acceptance of the COVID-19 Vaccine by Foreigners in South Korea," IJERPH, MDPI, vol. 18(22), pages 1-12, November.
    15. Hajri, Youssra & Allali, Amina & Amine, Saida, 2024. "A delayed deterministic and stochastic SIRICV model: Hopf bifurcation and stochastic analysis," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 215(C), pages 98-121.
    16. Yu, Zhenhua & Gao, Hongxia & Wang, Dan & Alnuaim, Abeer Ali & Firdausi, Muhammad & Mostafa, Almetwally M., 2022. "SEI2RS malware propagation model considering two infection rates in cyber–physical systems," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 597(C).
    17. Wei-Po Chou & Peng-Wei Wang & Shiou-Lan Chen & Yu-Ping Chang & Chia-Fen Wu & Wei-Hsin Lu & Cheng-Fang Yen, 2020. "Voluntary Reduction of Social Interaction during the COVID-19 Pandemic in Taiwan: Related Factors and Association with Perceived Social Support," IJERPH, MDPI, vol. 17(21), pages 1-12, October.
    18. Lee, Chaeyoung & Kwak, Soobin & Kim, Sangkwon & Hwang, Youngjin & Choi, Yongho & Kim, Junseok, 2021. "Robust optimal parameter estimation for the susceptible-unidentified infected-confirmed model," Chaos, Solitons & Fractals, Elsevier, vol. 153(P1).
    19. Chen Zhou & Huatao Peng & Bingbing Li, 2022. "How Risk Prevention Mechanisms Regulate Serial Entrepreneurs to Achieve Sustainable Entrepreneurship—A Policy Text Analysis," Sustainability, MDPI, vol. 14(21), pages 1-23, October.
    20. Henrike Sternberg & Janina Isabel Steinert & Tim Büthe, 2023. "Compliance in the Public versus the Private Realm: Economic Preferences, Institutional Trust and COVID-19 Health Behaviors," Munich Papers in Political Economy 28, Munich School of Politics and Public Policy and the School of Management at the Technical University of Munich.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijerp:v:18:y:2021:i:2:p:724-:d:481216. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.