Cost Optimization in the SIS Model of Infectious Disease with Treatment
AbstractWe consider the intertemporal social optimization problem of minimizing the present value of the costs incurred from both disease and treatment. Though the analysis is complicated by the analytical failure of concavity, we are able to substantially characterize both the long run equilibria and the adjustment paths. The cost minimizing program is shown to exhibit decreased levels of treatment at higher disease levels. The socially optimal program is compared to individually rational behavior and the inefficiencies in private behavior from the infection externality are shown to cause increases in the equilibrium rate of infection.
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Bibliographic InfoArticle provided by De Gruyter in its journal The B.E. Journal of Economic Analysis & Policy.
Volume (Year): 2 (2002)
Issue (Month): 1 (April)
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Web page: http://www.degruyter.com
Other versions of this item:
- Steven M. Goldman and James Lightwood., 1996. "Cost Optimization in the SIS Model of Infectious Disease with Treatment," Economics Working Papers 96-245, University of California at Berkeley.
- Goldman, Steven M. & Lightwood, James, 1996. "Cost Optimization in the SIS Model of Infectious Disease with Treatment," Department of Economics, Working Paper Series qt0r88q87t, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
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