Verification results for age-structured models of economic-epidemics dynamics

DOI10.1016/J.JMATECO.2020.102455zbMATH Open1459.91089arXiv2008.07335OpenAlexW3111415733WikidataQ113293982 ScholiaQ113293982MaRDI QIDQ2656367FDOQ2656367

Authors: Giorgio Fabbri, Fausto Gozzi, Giovanni Zanco 

Publication date: 11 March 2021

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Abstract: In this paper we propose a macro-dynamic age-structured set-up for the analysis of epidemics/economic dynamics in continuous time. The resulting optimal control problem is reformulated in an infinite dimensional Hilbert space framework where we perform the basic steps of dynamic programming approach. Our main result is a verification theorem which allows to guess the feedback form of optimal strategies. This will be a departure point to discuss the behavior of the models of the family we introduce and their policy implications.

Full work available at URL: https://arxiv.org/abs/2008.07335

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zbMATH Keywords

COVID-19Hilbert spacesverification theoremepidemiological dynamicsmacro-dynamic models

Mathematics Subject Classification ID

Mathematical geography and demography (91D20) Epidemiology (92D30) Dynamic programming (90C39) Economic dynamics (91B55)

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Cited In (4)

• Mathematical model of economic dynamics in an epidemic
• Economic epidemiological modelling: a progress report
• Hyperbolic techniques in epidemiological modeling
• The economics of epidemics and contagious diseases: an introduction

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