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SUMMARY:The Optimal Control of Infectious Diseases via Prevention and Trea
 tment - Dr Flavio Toxvaerd\, Economics\, University of Cambridge
DTSTART:20120521T103000Z
DTEND:20120521T113000Z
UID:TALK35956@talks.cam.ac.uk
CONTACT:Prof. Julia Gog
DESCRIPTION:This paper fully characterizes the optimal control of a recurr
 ent infectious disease through the use of prevention and treatment. We fin
 d that under centralized decision making\, treatment induces positive dest
 abilizing feedback effects while prevention induces negative stabilizing f
 eedback effects. Under decentralized decision making\, these effects creat
 e strategic complementarities and substitutabilities\, respectively. While
  treatment pushes prevalence towards the extremes\, prevention pushes it t
 owards interior solutions. As a result\, the dynamic system may admit mult
 iple steady states and the optimal policy may be path dependent. We find t
 hat the comparative statics of the model may radically differ across stead
 y states\, which has important policy implications. We find that steady st
 ate prevalence levels in decentralized equilibrium must be equal to or hig
 her than the socially optimal levels. While steady state treatment levels 
 under decentralization are typically socially optimal\, steady state preve
 ntion (if used) is socially suboptimal.
LOCATION:DD47\, Cripps Court\, Queens' College
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