ECONOMIC AND BEHAVIORAL FACTORS IN AN INDIVIDUAL fS DECISION TO TAKE THE INFLUENZA VACCINATION IN JAPAN

Yoshiro Tsusui (), Uri Benzion and Shosh Shahrabani
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Yoshiro Tsusui: Graduate School of Economics, Osaka University, Japan; CREED, FEB, University of Amsterdam, Netherlands
Uri Benzion: Department of Economics, Ben Gurion University; Interdisciplinary Department of Social Sciences, Western Galilee College, Israel
Authors registered in the RePEc Author Service: Yoshiro Tsutsui ()

No 10-23-Rev, Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics

Abstract: In this paper, we investigate what people in Japan consider when deciding to take the influenza vaccination. We develop an economic model to explain the mechanism by which people decide to take the influenza vaccination. Using our model and the data obtained from a large-scale survey we conducted in Japan, we demonstrated that people make rational decisions about vaccinations after considering its cost and benefits. People consider the probability of infection, severity of the disease, and the vaccination fs effectiveness and side effects. The time discount rate is another consideration because the timing of costs and benefits of the vaccination differ. Risk aversion (fearing the contraction of the flu and vaccination fs side effects) also affects the decision. People also deviate from rationality-altruism and status quo bias play important roles in the decision-making. Overconfidence indirectly affects the decision via perception variables such as the subjective probability of infection and assessment of influenza fs severity. The decision also depends on attributes such as gender, age, and marital status. If the general perception of flu and vaccination is inaccurate, supplying accurate information regarding those may increase or decrease the vaccination rate, depending on whether this perception is, respectively, higher or lower than the objective rates. Thus, we examine whether the general perception is biased. Our survey suggests that disseminating information on the vaccination fs effectiveness may increase the rate of vaccination, whereas that on the probability of infection may have the opposite effect.

Keywords: influenza; inoculation; survey; time preference; Japan (search for similar items in EconPapers)
JEL-codes: I19 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2010-08, Revised 2011-02
New Economics Papers: this item is included in nep-cis and nep-hea
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Related works:
Journal Article: Economic and behavioral factors in an individual's decision to take the influenza vaccination in Japan (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:osk:wpaper:1023r

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