A stochastic $θ$-SEIHRD model: adding randomness to the COVID-19 spread

Abstract: In this article we mainly extend the deterministic model developed in [10] to a stochastic setting. More precisely, we incorporated randomness in some coefficients by assuming that they follow a prescribed stochastic dynamics. In this way, the model variables are now represented by stochastic process, that can be simulated by appropriately solve the system of stochastic differential equations. Thus, the model becomes more complete and flexible than the deterministic analogous, as it incorporates additional uncertainties which are present in more realistic situations. In particular, confidence intervals for the main variables and worst case scenarios can be computed.