Analyzing the cost effectiveness of policy responses for COVID-19: The importance of capturing social consequences

Date: May 19, 2020
Journal: Medical Decision Making Research Letter
Citation: Kim DD, Neumann PJ. "Analyzing the cost effectiveness of policy responses for COVID-19: The importance of capturing social consequences," Medical Decision Making Research Letter, May 19, 2020.

All signs indicate that social distancing mandates to slow the spread of COVID-19 are working, and there is broad consensus about their necessity. Still, it is critical to consider the costs and benefits of any specific policy issuance. Estimating economic impacts can shed light on the tradeoffs inherent in alternative policy options. However, such analyses can lead officials astray if underlying data and assumptions do not reasonably capture all relevant benefits and costs.

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