I don't get why you say elderly cost more. Obviously if we lock elderly down more and keep them locked down longer, that costs more than a short lesser lockdown. So, given this particular virus and the desire to lock down elderly harder and longer, there is a larger cost born by the elderly.tysker said:
That's what welfare is in choice theory and behavioral economics
eta: welfare being the cost at which individuals are willing to participate (or not). Longer+stronger lockdowns => more costly welfare (seems intuitive) and in Sweden the elderly cost more (also intuitive). I'm curious as to what US-centric results would look like.
But does a similar lockdown of a similar duration cost more to the elderly than the young? I'm not sure I understand why that is intuitive.