Coordination and Social Distancing: Inertia in the Aggregate Response to COVID-19
Coordination and Social Distancing: Inertia in the Aggregate Response to COVID-19
Social distancing --- which is critical for mitigating the spread of COVID-19 --- has been slow and inadequate. Applying the literature on beauty contest models, we show: (1) When a new and rare virus, like COVID-19, emerges, the aggregate level of social distancing has inherent inertia. Novel infectious diseases abruptly …