Global entropy and behavioral responses of economic agents in the context of the COVID-19 pandemic
Анотація
The shock increase in global entropy is caused by the lack of reliable information about the factors that determine the course of the COVID-19 pandemic. The analysis of correlations indicates a significant weakening of the relationship between the number of infected and deaths, as well as the dynamics of economic activity, which began to recover in July-August 2020. There is a direct relationship between the level of information uncertainty and the economic activity of agents. The lack of information about the COVID-19 pandemic is offset by the formation of an information space for forecasts and scenarios that formed the overall picture of process controllability. At different stages of the pandemic the behavioral reactions of economic agents are represented by: ignoring the danger of a pandemic; an attempt to protect your economic system from changes; using traditional stabilization methods; the formation of a strategic approach to the organization of economic activity.
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