This paper proposes a mathematical two-stage decision making model based on dual-decision models from behavioral economics that includes, in addition to cognitive and affective systems, an individualistic human factor and a stochastic shock. The model provides a new vision of the decision-making...

The analysis of the pandemic and its effects have been widely studied. For instance, in Economics, most research has studied the impacts of COVID-19 on the global economy, a group of countries, or a single country, while the small-scale effects of the pandemic have not received enough attention....