The demand for a COVID-19 vaccine

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 Chin...

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Detalles Bibliográficos
Autor principal: Sun, Sizhong
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier B.V. 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8928710/
https://www.ncbi.nlm.nih.gov/pubmed/35338910
http://dx.doi.org/10.1016/j.ehb.2022.101135
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author Sun, Sizhong
author_facet Sun, Sizhong
author_sort Sun, Sizhong
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description 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.
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spelling pubmed-89287102022-03-17 The demand for a COVID-19 vaccine Sun, Sizhong Econ Hum Biol Article 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. Elsevier B.V. 2022-08 2022-03-17 /pmc/articles/PMC8928710/ /pubmed/35338910 http://dx.doi.org/10.1016/j.ehb.2022.101135 Text en © 2022 Elsevier B.V. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Sun, Sizhong
The demand for a COVID-19 vaccine
title The demand for a COVID-19 vaccine
title_full The demand for a COVID-19 vaccine
title_fullStr The demand for a COVID-19 vaccine
title_full_unstemmed The demand for a COVID-19 vaccine
title_short The demand for a COVID-19 vaccine
title_sort demand for a covid-19 vaccine
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8928710/
https://www.ncbi.nlm.nih.gov/pubmed/35338910
http://dx.doi.org/10.1016/j.ehb.2022.101135
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