Vaccine Hesitancy, Passports and the Demand for Vaccination

Abstract

Vaccine hesitancy is modelled as an endogenous decision within a behavioural SIR model with endogenous agent activity. It is shown that policy interventions that directly target costs associated with vaccine adoption may counter vaccine hesitancy while those that manipulate the utility of unvaccinated agents will either lead to the same or lower rates of vaccine adoption. This latter effect arises with vaccine passports whose effects are mitigated in equilibrium by reductions in viral/disease prevalence that themselves reduce the demand for vaccination.

The Economic Consequences of R = 1: Towards a Workable Behavioural Epidemiological Model of Pandemics

“…(Gans 2021) and(Avery 2021) use a similar approach to the model here to examine the impact of vaccine policies (e.g., mandates) in a behavioural SIR model.…”

Managing the risk of COVID‐19 via vaccine passports: Modeling economic and policy implications

“…VPs can be viewed as a tool to counter vaccine hesitancy (Gans, 2021) and an instrument for internalizing disease and information externalities. They are primarily targeted to the unvaccinated and the recovered (who cannot get vaccinated in the short term).…”

“…The present study focuses on the politicaleconomic causes and effects of VPs, given vaccinations (although, in some cases, vaccination efforts might be affected (speeded up) when vaccination passports are put in place). Research on VPs is still in infancy and is mostly in noneconomics disciplines; see Brown et al (2020), Gans (2021), Hall and Studdert (2021), Jecker (2021), Memish et al (2021), andNalubola (2021). This paper considers the pros and cons of VPs from an economic perspective.…”

Economic Considerations in COVID‐19 Vaccine Hesitancy and Refusal: A Survey of the Literature*

“…An effective vaccination program is the only possible way of controlling the pandemic, minimising the health costs, and opening the economy. Gans (2021) describes vaccination programs as "a textbook example of a positive externality," with government interventions required to reduce free riding. Yet achieving population-level immunity against COVID-19 is an enormous economic challenge, as it is complex to determine the level of community-wide vaccination required to allow opening of the economy.…”

“…( 2021 ) point out, though, while these measures proved “effective in reducing the healthcare burden compared to an uncontrolled outbreak, this is achieved to the detriment of the economy, education and many other societal factors.” An effective vaccination program is the only possible way of controlling the pandemic, minimising the health costs, and opening the economy. Gans ( 2021 ) describes vaccination programs as “a textbook example of a positive externality,” with government interventions required to reduce free riding. Yet achieving population‐level immunity against COVID‐19 is an enormous economic challenge, as it is complex to determine the level of community‐wide vaccination required to allow opening of the economy.…”