COVID-19 Vaccine Demand and Financial Incentives

Carlos Carpio, Ioana A. Coman, Oscar Sarasty and Manuel García
Additional contact information
Ioana A. Coman: Texas Tech University
Oscar Sarasty: Texas Tech University
Manuel García: Texas Tech University

Applied Health Economics and Health Policy, 2021, vol. 19, issue 6, No 8, 883 pages

Abstract: Abstract Background Public health experts estimate that only very high COVID-19 vaccine uptake levels can result in herd immunity. Objective This study’s main objective was to evaluate the impact of vaccine price levels, including payments, and the efficacy levels on COVID-19 vaccine demand. Methods Data for this study were collected from an online survey of 2000 US individuals aged 18 years and older, which included a set of contingent valuation questions. Parametric and nonparametric procedures were used to estimate the distribution of willingness-to-pay and willingness-to-accept values for the vaccine and to assess its association with vaccine efficacy levels (50, 70, and 95%). Results Most of the individuals (60%) indicated they were willing to pay a positive amount for the vaccine; 13.7% said they would only accept the vaccine if it were free; 14.1% were willing to take the vaccine only if they were paid; and 12.2% were not willing to accept the vaccine. The vaccine efficacy level was found to affect an individual’s demand for the vaccine. Estimated mean willingness-to-pay values were: US$594, US$706, and US$723 for vaccines with efficacy levels of 50, 70, and 95%, respectively. Conclusions US individuals highly value the COVID-19 vaccine, and about 88% of the US population would accept the vaccination; however, 14% indicated they would get vaccinated if compensated. Payments of about US$500 or more would be needed to sufficiently incentivize 50% or more of this group vaccinated.

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://link.springer.com/10.1007/s40258-021-00687-9 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:aphecp:v:19:y:2021:i:6:d:10.1007_s40258-021-00687-9

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/40258

DOI: 10.1007/s40258-021-00687-9

Access Statistics for this article

Applied Health Economics and Health Policy is currently edited by Timothy Wrightson

More articles in Applied Health Economics and Health Policy from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().