Hong, Wang, and Yang estimate an epidemic model utilizing information from 16 nations. They first present that deterministic models, which are widely used in the literature, are worse at approximating the stochastic mannequin at longer horizons, that is, when the development of the vaccine is further out. Second, the optimal mitigation strategy is affected by uncertainty in transmission rates, as there is an option worth of waiting when there is a possibility that infections will die out. Also, as infection rates cannot be perfectly controlled, mitigation measures fluctuate with infection rates.
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