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An axiomatic approach towards pandemic performance indicators

Author

Listed:
  • Ricardo Martínez

    (Department of Economic Theory and Economic History, University of Granada.)

  • Juan D Moreno Ternero

    (Department of Economics, Universidad Pablo de Olavide.)

Abstract

During a pandemic, each country (or region) is characterized by a status matrix indicating its positive cases, hospitalizations and deaths. A pandemic performance indicator is a realvalued mapping from the set of status matrices to the set of non-negative real numbers, whereby lower values stand for better performance. We show that four axioms together characterize a family of indicators arising from a weighted average of the incidence rate, morbidity rate and mortality rate. We use these indicators to evaluate the impact of COVID19 in major countries worldwide.

Suggested Citation

  • Ricardo Martínez & Juan D Moreno Ternero, 2022. "An axiomatic approach towards pandemic performance indicators," ThE Papers 22/12, Department of Economic Theory and Economic History of the University of Granada..
  • Handle: RePEc:gra:wpaper:22/12
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    References listed on IDEAS

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    4. Zhang, Wei & He, Jie & Ge, Chanyuan & Xue, Rui, 2022. "Real-time macroeconomic monitoring using mixed frequency data: Evidence from China," Economic Modelling, Elsevier, vol. 117(C).
    5. Ricardo Mart'inez & Joaqu'in S'anchez-Soriano, 2023. "Order preservation with dummies in the musseum pass problem," Papers 2307.00622, arXiv.org.

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    More about this item

    Keywords

    pandemic; incidence; hospitalizations; deaths; axioms.;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • I10 - Health, Education, and Welfare - - Health - - - General

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