The demand for a COVID-19 vaccine

Sun, Sizhong (2022) The demand for a COVID-19 vaccine. Economics and Human Biology, 46. 101135.

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DOI: 10.1016/j.ehb.2022.101135

View at Publisher Website: https://doi.org/10.1016/j.ehb.2022.10113...

Abstract

Taking willingness to pay as primitive, this paper establishes an analytical framework for demand estimation, where the estimator is robust to endogeneity of price. Applying the framework, this paper then estimates demand functions for a COVID-19 vaccine and compute the consumer surplus in both China and the UAE. We find that the price elasticities of demand are mostly greater than one in both countries. An elastic demand suggests subsidy is likely to be successful in promoting vaccination. The consumer surplus is sizeable, around 58 billion US$ in China and 646 million US$ in the UAE. The figures can inform policymakers in assessing their vaccine programs.


Item ID:	74293
Item Type:	Article (Research - C1)
ISSN:	1570-677X
Keywords:	Demand for vaccine, Demand estimation, Willingness to pay, COVID-19, Contingent valuation, China, UAE
Copyright Information:	Published Version: © 2022 Elsevier B.V. All rights reserved. Accepted Version: © 2022. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
Date Deposited:	25 May 2022 07:51
FoR Codes:	38 ECONOMICS > 3801 Applied economics > 380108 Health economics @ 100%
SEO Codes:	15 ECONOMIC FRAMEWORK > 1505 Microeconomics > 150501 Consumption @ 50% 15 ECONOMIC FRAMEWORK > 1505 Microeconomics > 150511 Supply and demand @ 50%
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