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The Economics of Epidemic Diseases

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  • Nicola Dimitri

Abstract

Epidemic, infectious, diseases affect a large number of individuals across developing as well as developed countries. With reference to some very simple diffusion models, in this paper we consider how available economic resources could be optimally allocated by health authorities to mitigate, possibly eradicate, the disease. Optimality was defined as the minimization of the long run number of infected people. The main goal of the work has been to introduce a methodology for deciding if it would be best to concentrate resources to prevent contact between individuals and with an external source, or to develop a new treatment for curing the disease, or both. The analysis suggests that this depends on the cost functions, that is the available technology, for controlling the relevant parameters underlying the epidemics as well as on the available financial resources. In the case of the recent Ebola outbreak, the suggestions of the model have been consistent with the policies adopted.

Suggested Citation

  • Nicola Dimitri, 2015. "The Economics of Epidemic Diseases," PLOS ONE, Public Library of Science, vol. 10(9), pages 1-8, September.
    • Handle: RePEc:plo:pone00:0137964
    DOI: 10.1371/journal.pone.0137964
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    References listed on IDEAS

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    1. repec:cup:cbooks:9780511771576 is not listed on IDEAS
    2. Easley,David & Kleinberg,Jon, 2010. "Networks, Crowds, and Markets," Cambridge Books, Cambridge University Press, number 9780521195331, October.
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    Cited by:

    1. Laszlo Torok, 2021. "Co-movement in Stock Indices and GDP During the COVID-19 Period in the Countries of the European Union," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 01-19.
    2. Pius Babuna & Xiaohua Yang & Amatus Gyilbag & Doris Abra Awudi & David Ngmenbelle & Dehui Bian, 2020. "The Impact of COVID-19 on the Insurance Industry," IJERPH, MDPI, vol. 17(16), pages 1-14, August.

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