Pricing the COVID-19 vaccine: A mathematical approach.
COVID-19
Game theory
Optimization
Public health policy
Vaccine pricing
Journal
Omega
ISSN: 0305-0483
Titre abrégé: Omega
Pays: England
ID NLM: 9876431
Informations de publication
Date de publication:
Sep 2021
Sep 2021
Historique:
received:
06
02
2021
accepted:
22
03
2021
pubmed:
1
4
2021
medline:
1
4
2021
entrez:
31
3
2021
Statut:
ppublish
Résumé
According to the World Health Organization, development of the COVID-19 vaccine is occurring in record time. Administration of the vaccine has started the same year as the declaration of the COVID-19 pandemic. The United Nations emphasized the importance of providing COVID-19 vaccines as a global public good, which is accessible and affordable world-wide. Pricing the COVID-19 vaccines is a controversial topic. We use optimization and game theoretic approaches to model the COVID-19 U.S. vaccine market as a duopoly with two manufacturers Pfizer-BioNTech and Moderna. The results suggest that even in the context of very high production and distribution costs, the government can negotiate prices with the manufacturers to keep public sector prices as low as possible while meeting demand and ensuring each manufacturer earns a target profit. Furthermore, these prices are consistent with those currently predicted in the media.
Identifiants
pubmed: 33785979
doi: 10.1016/j.omega.2021.102451
pii: S0305-0483(21)00060-8
pmc: PMC7992367
doi:
Types de publication
Journal Article
Langues
eng
Pagination
102451Informations de copyright
© 2021 Elsevier Ltd. All rights reserved.
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