Ricardo Martínez & Juan D Moreno Ternero, 2022. "An axiomatic approach towards pandemic performance indicators", ThE Papers 22/12, Department of Economic Theory and Economic History of the University of Granada.
Abstract: During a pandemic, each country (or region) is characterized by a status matrix indicating its positive cases, hospitalizations and deaths. A pandemic performance indicator is a realvalued mapping from the set of status matrices to the set of non-negative real numbers, whereby lower values stand for better performance. We show that four axioms together characterize a family of indicators arising from a weighted average of the incidence rate, morbidity rate and mortality rate. We use these indicators to evaluate the impact of COVID19 in major countries worldwide.