Before revision:  In the second part of the paper we study the equilibrium of the social distancing game and we show that voluntary social distancing will always be socially sub-optimal . Our numerical study using Covid-19 data serves to quantify the absolute and relative utility gaps across age cohorts .
After revision:  In the second part of the paper we study the equilibrium of the social distancing game and we show that voluntary social distancing will always be socially sub-optimal .