The present paper, in the sprit of econophysics, attempts to shed new light on the aspect that was missed in the traditional economic analysis. More precisely, the present paper combines the optimal stopping model and the economic model into a single structure and examines the relationship...

The early COVID-19 pandemic literature focused on the conflict between lives and livelihoods. But cross-country evidence reveals that across countries high mortality rates were often associated with large gross domestic product contractions. This paper shows that the presumed trade-off was...