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. 2022;193(3-4):263-274.
doi: 10.1007/s11127-022-00992-4. Epub 2022 Sep 7.

Optimal lockdowns

David J Hebert  1 , Michael D Curry  1
Affiliations

Optimal lockdowns

David J Hebert et al. Public Choice. 2022.

Abstract

This paper provides a framework for understanding optimal lockdowns and makes three contributions. First, it theoretically analyzes lockdown policies and argues that policy makers systematically enact too strict lockdowns because their incentives are misaligned with achieving desired ends and they cannot adapt to changing circumstances. Second, it provides a benchmark to determine how strongly policy makers in different locations should respond to COVID-19. Finally, it provides a framework for understanding how, when, and why lockdown policy is expected to change.

Keywords: Adaptability; COVID-19; Optimal policy; Planners’ problem.

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Conflict of interest statement

Conflict of interestThe authors have no competing interests to declare that are relevant to the content of this article.

Figures

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External Costs
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Internal Costs
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Total Costs
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Effect of Exaggerated External Costs on Total Costs
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Effect of Underestimated Internal Costs on Total Cost
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Fig. 6
Total Effects on Total Cost of Lockdowns
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