A real option analysis for stochastic disease control and vaccine stockpile policy: An application to H1N1 in Korea
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Park, Hojeong | - |
dc.date.accessioned | 2021-09-04T03:32:44Z | - |
dc.date.available | 2021-09-04T03:32:44Z | - |
dc.date.created | 2021-06-16 | - |
dc.date.issued | 2016-02 | - |
dc.identifier.issn | 0264-9993 | - |
dc.identifier.uri | https://scholar.korea.ac.kr/handle/2021.sw.korea/89693 | - |
dc.description.abstract | Vaccination is mostly used for controlling the diffusion of an infectious disease. This paper attempts to bridge a gap between economic model and epidemiological model to analyze the optimal vaccination strategy when the diffusion of pandemic disease follows a stochastic process. Impulsive vaccination is considered as an effective option to control an infectious disease. A real option model under stochastic Susceptible-Infected-Susceptible (SIS) environment is developed to examine the optimal vaccination threshold when the social costs and benefits of vaccination efforts are considered. A numerical illustration is provided for the case of H1N1 in Korea to show the herd immunity level as a policy rule to suppress epidemic. Policy implications are discussed regarding the vaccine stockpile as a countermeasure to epidemic diffusion. (C) 2015 Elsevier B.V. All rights reserved. | - |
dc.language | English | - |
dc.language.iso | en | - |
dc.publisher | ELSEVIER SCIENCE BV | - |
dc.subject | INFECTIOUS-DISEASES | - |
dc.subject | MODEL | - |
dc.title | A real option analysis for stochastic disease control and vaccine stockpile policy: An application to H1N1 in Korea | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Park, Hojeong | - |
dc.identifier.doi | 10.1016/j.econmod.2015.12.005 | - |
dc.identifier.scopusid | 2-s2.0-84951783081 | - |
dc.identifier.wosid | 000370770400016 | - |
dc.identifier.bibliographicCitation | ECONOMIC MODELLING, v.53, pp.187 - 194 | - |
dc.relation.isPartOf | ECONOMIC MODELLING | - |
dc.citation.title | ECONOMIC MODELLING | - |
dc.citation.volume | 53 | - |
dc.citation.startPage | 187 | - |
dc.citation.endPage | 194 | - |
dc.type.rims | ART | - |
dc.type.docType | Article | - |
dc.description.journalClass | 1 | - |
dc.description.journalRegisteredClass | ssci | - |
dc.description.journalRegisteredClass | scopus | - |
dc.relation.journalResearchArea | Business & Economics | - |
dc.relation.journalWebOfScienceCategory | Economics | - |
dc.subject.keywordPlus | INFECTIOUS-DISEASES | - |
dc.subject.keywordPlus | MODEL | - |
dc.subject.keywordAuthor | Vaccination policy | - |
dc.subject.keywordAuthor | Real options | - |
dc.subject.keywordAuthor | Stochastic disease | - |
dc.subject.keywordAuthor | H1N1 | - |
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