A simple planning problem for COVID-19 lockdown: a dynamic programming approach

DOI10.1007/S00199-023-01493-1arXiv2206.00613MaRDI QIDQ6131950FDOQ6131950

Authors: Alessandro Calvia, Fausto Gozzi, Francesco Lippi, Giovanni Zanco 

Publication date: 18 April 2024

Published in: Economic Theory (Search for Journal in Brave)

Abstract: A large number of recent studies consider a compartmental SIR model to study optimal control policies aimed at containing the diffusion of COVID-19 while minimizing the economic costs of preventive measures. Such problems are non-convex and standard results need not to hold. We use a Dynamic Programming approach and prove some continuity properties of the value function of the associated optimization problem. We study the corresponding Hamilton-Jacobi-Bellman equation and show that the value function solves it in the viscosity sense. Finally, we discuss some optimality conditions. Our paper represents a first contribution towards a complete analysis of non-convex dynamic optimization problems, within a Dynamic Programming approach.

Full work available at URL: https://arxiv.org/abs/2206.00613

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zbMATH Keywords

optimality conditionsviscosity solutionscontrolled SIRD modeloptimal control with state space constraintsoptimal lockdown policies

Mathematics Subject Classification ID

Epidemiology (92D30) Dynamic programming in optimal control and differential games (49L20) Viscosity solutions to Hamilton-Jacobi equations in optimal control and differential games (49L25) Hamilton-Jacobi equations in optimal control and differential games (49L12)

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