during an epidemic? We study a setting where ICU resources are constrained while suppression is costly (e.g., limiting … suppression measures are continuously taken to hold down the spread throughout the epidemic, is suboptimal. Instead, the optimal … suppression is discountinuous. The epidemic should be left unregulated in a first phase and when the ICU constraint is approaching …

, vulnerability, and resilience of the local economy to the shock of the epidemic. Using a battery of proxies for these four concepts …

We derive a model in which firms operate in an epidemic environment and internalize infections among their employees in … the workplace. The model is calibrated to fit the properties of the Covid-19 epidemic. We show that firms have incentives …

a larger share of the patent rent is spent on marketing, relative to R&D. …

marketing expenditure. Although promotional activity is modelled as purely wasteful competition among firms for attention, it … are consistent with empirical evidence. First, if firms incur higher sunk costs for marketing, concentration and firm … become excessive, whereas being inefficiently low in the benchmark case without marketing. This has non-trivial consequences …

(of illness), but rely on information to prescribe the correct drug. Drug information is conveyed by marketing (detailing …