Professor Forman

A Rational Approach to
The Coronavirus Economic Reopening
Step 2 Evaluate Risks

A rational approach to decisions about opening the economy as the impact of the Coronavirus subsides requires consideration of both risk facing and risk taking. (See Facing Risks vs. Taking Risks)

Risks We Face Step 2) Evaluate the risks of each of alternative strategies, based on differing assumptions about the availability of widespread testing and the existence of medical treatments. Using data and expert judgment to estimate the the likelihood and impact of the risks for each alternative strategy. Avoiding crude estimation methods by applying a comprehensive process including scientifically valid risk measurement and a comprehensive consideration of all relevant objectives.

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