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The Economics of Infectious Diseases

Author

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  • Auld, Christopher
  • Fenichel, Eli P
  • Toxvaerd, Flavio

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 nonpharmaceutical 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

  • Auld, Christopher & Fenichel, Eli P & Toxvaerd, Flavio, 2025. "The Economics of Infectious Diseases," CEPR Discussion Papers 20775, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:20775
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    File URL: https://cepr.org/publications/DP20775
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    Keywords

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    JEL classification:

    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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