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The Economics of Infectious Diseases

Author

Listed:
  • M. Christopher Auld
  • Eli P. Fenichel
  • Flavio Toxvaerd

Abstract

We synthesize the literature on economic epidemiology, the interdisciplinary field that draws on the ideas and methods of economics to analyze individual behavior, aggregate disease dynamics, and public policy during infectious disease epidemics. We cover the main models of individual behavior during epidemics, related econometric evidence, and models of disease dynamics appropriate for the analysis of a range of infectious diseases. We outline modeling approaches to a range of control measures including non-pharmaceutical interventions such as stay-at-home mandates, quarantines, and sheltering, and pharmaceutical interventions such as vaccines and treatment. Last, we characterize different types of externalities and heterogeneities and discuss the targeting and implementation of policies through restrictions and incentives.

Suggested Citation

  • M. Christopher Auld & Eli P. Fenichel & Flavio Toxvaerd, 2025. "The Economics of Infectious Diseases," Journal of Economic Literature, American Economic Association, vol. 63(4), pages 1281-1330, December.
    • Handle: RePEc:aea:jeclit:v:63:y:2025:i:4:p:1281-1330
    DOI: 10.1257/jel.20241649
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    Cited by:

    1. Marsiglio, Simone & Perevalova, Tatyana & Tolotti, Marco, 2026. "Epidemics and climate change: Disease containment or climate mitigation?," Journal of Economic Behavior & Organization, Elsevier, vol. 241(C).

    More about this item

    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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