Multi-agent economic analysis in coping with novel corona-virus pneumonia

This paper aims to find a way of allocating masks appropriately during the outbreak of COVID-19. By considering the goals of different perspectives such as mask producers, mask consumers and countries’ government, this paper constructs some mathematical models in order to maximize each group’s objec...

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Bibliographic Details
Published in:Journal of physics. Conference series 2021-02, Vol.1812 (1), p.12018
Main Author: Chen, Wenjing
Format: Article
Language:English
Subjects:
Coronaviruses
COVID-19
Economic analysis
Masks
Mathematical models
Multiagent systems
Outbreaks
Physics
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Summary:This paper aims to find a way of allocating masks appropriately during the outbreak of COVID-19. By considering the goals of different perspectives such as mask producers, mask consumers and countries’ government, this paper constructs some mathematical models in order to maximize each group’s objective function. The model takes an assumption that the masks produced are all allocated without friction cost. Based on the model, it is demonstrated that the government plays an important role in mask allocation only after the initial stage of the outbreak of Covid-19. It is also shown that the optimal allocation plan of the mask market is influenced by the government action even if we do not consider direct interference of the government on the market, such as taxes, or price celling.
ISSN:1742-6588
1742-6596
DOI:10.1088/1742-6596/1812/1/012018