The performance of government subsidy schemes in a competitive vaccine market considering consumers' free-riding behavior
Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consum...
Ausführliche Beschreibung
Autor*in: |
Xu, Danni [verfasserIn] Wang, Fan [verfasserIn] Zhuo, Xiaopo [verfasserIn] Liu, Yaoqi [verfasserIn] |
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Format: |
E-Artikel |
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Sprache: |
Englisch |
Erschienen: |
2023 |
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Schlagwörter: |
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Übergeordnetes Werk: |
Enthalten in: International journal of production economics - Amsterdam [u.a.] : Elsevier Science, 1991, 268 |
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Übergeordnetes Werk: |
volume:268 |
DOI / URN: |
10.1016/j.ijpe.2023.109122 |
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Katalog-ID: |
ELV06661337X |
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520 | |a Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consumers. This paper develops a game-theoretic model that incorporates two vaccine suppliers with different efficacy rates and prices. We propose two subsidy schemes, one based on vaccine price and the other based on vaccine efficacy rate, with the aim of improving vaccination rates. Our results demonstrate that the price-based subsidy scheme (PSS) leads to a higher vaccine price compared to the efficacy-based subsidy scheme (ESS). Moreover, the ESS proves more effective in increasing the equilibrium vaccination rate when the efficacy rate is low, while the PSS is more effective when the efficacy rate is high. However, if the government’s budget is limited, the ESS is more likely to improve the equilibrium vaccination rate compared to the PSS. | ||
650 | 4 | |a Vaccine competition | |
650 | 4 | |a Government subsidies | |
650 | 4 | |a Free-riding behavior | |
650 | 4 | |a Price-based subsidy scheme | |
650 | 4 | |a Efficacy-based subsidy scheme | |
700 | 1 | |a Wang, Fan |e verfasserin |4 aut | |
700 | 1 | |a Zhuo, Xiaopo |e verfasserin |4 aut | |
700 | 1 | |a Liu, Yaoqi |e verfasserin |4 aut | |
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10.1016/j.ijpe.2023.109122 doi (DE-627)ELV06661337X (ELSEVIER)S0925-5273(23)00354-7 DE-627 ger DE-627 rda eng 330 VZ 85.35 bkl Xu, Danni verfasserin aut The performance of government subsidy schemes in a competitive vaccine market considering consumers' free-riding behavior 2023 nicht spezifiziert zzz rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consumers. This paper develops a game-theoretic model that incorporates two vaccine suppliers with different efficacy rates and prices. We propose two subsidy schemes, one based on vaccine price and the other based on vaccine efficacy rate, with the aim of improving vaccination rates. Our results demonstrate that the price-based subsidy scheme (PSS) leads to a higher vaccine price compared to the efficacy-based subsidy scheme (ESS). Moreover, the ESS proves more effective in increasing the equilibrium vaccination rate when the efficacy rate is low, while the PSS is more effective when the efficacy rate is high. However, if the government’s budget is limited, the ESS is more likely to improve the equilibrium vaccination rate compared to the PSS. Vaccine competition Government subsidies Free-riding behavior Price-based subsidy scheme Efficacy-based subsidy scheme Wang, Fan verfasserin aut Zhuo, Xiaopo verfasserin aut Liu, Yaoqi verfasserin aut Enthalten in International journal of production economics Amsterdam [u.a.] : Elsevier Science, 1991 268 Online-Ressource (DE-627)320606619 (DE-600)2020829-7 (DE-576)259271764 1873-7579 nnns volume:268 GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_150 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 85.35 Fertigung VZ AR 268 |
spelling |
10.1016/j.ijpe.2023.109122 doi (DE-627)ELV06661337X (ELSEVIER)S0925-5273(23)00354-7 DE-627 ger DE-627 rda eng 330 VZ 85.35 bkl Xu, Danni verfasserin aut The performance of government subsidy schemes in a competitive vaccine market considering consumers' free-riding behavior 2023 nicht spezifiziert zzz rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consumers. This paper develops a game-theoretic model that incorporates two vaccine suppliers with different efficacy rates and prices. We propose two subsidy schemes, one based on vaccine price and the other based on vaccine efficacy rate, with the aim of improving vaccination rates. Our results demonstrate that the price-based subsidy scheme (PSS) leads to a higher vaccine price compared to the efficacy-based subsidy scheme (ESS). Moreover, the ESS proves more effective in increasing the equilibrium vaccination rate when the efficacy rate is low, while the PSS is more effective when the efficacy rate is high. However, if the government’s budget is limited, the ESS is more likely to improve the equilibrium vaccination rate compared to the PSS. Vaccine competition Government subsidies Free-riding behavior Price-based subsidy scheme Efficacy-based subsidy scheme Wang, Fan verfasserin aut Zhuo, Xiaopo verfasserin aut Liu, Yaoqi verfasserin aut Enthalten in International journal of production economics Amsterdam [u.a.] : Elsevier Science, 1991 268 Online-Ressource (DE-627)320606619 (DE-600)2020829-7 (DE-576)259271764 1873-7579 nnns volume:268 GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_150 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 85.35 Fertigung VZ AR 268 |
allfields_unstemmed |
10.1016/j.ijpe.2023.109122 doi (DE-627)ELV06661337X (ELSEVIER)S0925-5273(23)00354-7 DE-627 ger DE-627 rda eng 330 VZ 85.35 bkl Xu, Danni verfasserin aut The performance of government subsidy schemes in a competitive vaccine market considering consumers' free-riding behavior 2023 nicht spezifiziert zzz rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consumers. This paper develops a game-theoretic model that incorporates two vaccine suppliers with different efficacy rates and prices. We propose two subsidy schemes, one based on vaccine price and the other based on vaccine efficacy rate, with the aim of improving vaccination rates. Our results demonstrate that the price-based subsidy scheme (PSS) leads to a higher vaccine price compared to the efficacy-based subsidy scheme (ESS). Moreover, the ESS proves more effective in increasing the equilibrium vaccination rate when the efficacy rate is low, while the PSS is more effective when the efficacy rate is high. However, if the government’s budget is limited, the ESS is more likely to improve the equilibrium vaccination rate compared to the PSS. Vaccine competition Government subsidies Free-riding behavior Price-based subsidy scheme Efficacy-based subsidy scheme Wang, Fan verfasserin aut Zhuo, Xiaopo verfasserin aut Liu, Yaoqi verfasserin aut Enthalten in International journal of production economics Amsterdam [u.a.] : Elsevier Science, 1991 268 Online-Ressource (DE-627)320606619 (DE-600)2020829-7 (DE-576)259271764 1873-7579 nnns volume:268 GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_150 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 85.35 Fertigung VZ AR 268 |
allfieldsGer |
10.1016/j.ijpe.2023.109122 doi (DE-627)ELV06661337X (ELSEVIER)S0925-5273(23)00354-7 DE-627 ger DE-627 rda eng 330 VZ 85.35 bkl Xu, Danni verfasserin aut The performance of government subsidy schemes in a competitive vaccine market considering consumers' free-riding behavior 2023 nicht spezifiziert zzz rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consumers. This paper develops a game-theoretic model that incorporates two vaccine suppliers with different efficacy rates and prices. We propose two subsidy schemes, one based on vaccine price and the other based on vaccine efficacy rate, with the aim of improving vaccination rates. Our results demonstrate that the price-based subsidy scheme (PSS) leads to a higher vaccine price compared to the efficacy-based subsidy scheme (ESS). Moreover, the ESS proves more effective in increasing the equilibrium vaccination rate when the efficacy rate is low, while the PSS is more effective when the efficacy rate is high. However, if the government’s budget is limited, the ESS is more likely to improve the equilibrium vaccination rate compared to the PSS. Vaccine competition Government subsidies Free-riding behavior Price-based subsidy scheme Efficacy-based subsidy scheme Wang, Fan verfasserin aut Zhuo, Xiaopo verfasserin aut Liu, Yaoqi verfasserin aut Enthalten in International journal of production economics Amsterdam [u.a.] : Elsevier Science, 1991 268 Online-Ressource (DE-627)320606619 (DE-600)2020829-7 (DE-576)259271764 1873-7579 nnns volume:268 GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_150 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 85.35 Fertigung VZ AR 268 |
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10.1016/j.ijpe.2023.109122 doi (DE-627)ELV06661337X (ELSEVIER)S0925-5273(23)00354-7 DE-627 ger DE-627 rda eng 330 VZ 85.35 bkl Xu, Danni verfasserin aut The performance of government subsidy schemes in a competitive vaccine market considering consumers' free-riding behavior 2023 nicht spezifiziert zzz rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consumers. This paper develops a game-theoretic model that incorporates two vaccine suppliers with different efficacy rates and prices. We propose two subsidy schemes, one based on vaccine price and the other based on vaccine efficacy rate, with the aim of improving vaccination rates. Our results demonstrate that the price-based subsidy scheme (PSS) leads to a higher vaccine price compared to the efficacy-based subsidy scheme (ESS). Moreover, the ESS proves more effective in increasing the equilibrium vaccination rate when the efficacy rate is low, while the PSS is more effective when the efficacy rate is high. However, if the government’s budget is limited, the ESS is more likely to improve the equilibrium vaccination rate compared to the PSS. Vaccine competition Government subsidies Free-riding behavior Price-based subsidy scheme Efficacy-based subsidy scheme Wang, Fan verfasserin aut Zhuo, Xiaopo verfasserin aut Liu, Yaoqi verfasserin aut Enthalten in International journal of production economics Amsterdam [u.a.] : Elsevier Science, 1991 268 Online-Ressource (DE-627)320606619 (DE-600)2020829-7 (DE-576)259271764 1873-7579 nnns volume:268 GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_150 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 85.35 Fertigung VZ AR 268 |
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Xu, Danni Wang, Fan Zhuo, Xiaopo Liu, Yaoqi |
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title_sort |
the performance of government subsidy schemes in a competitive vaccine market considering consumers' free-riding behavior |
title_auth |
The performance of government subsidy schemes in a competitive vaccine market considering consumers' free-riding behavior |
abstract |
Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consumers. This paper develops a game-theoretic model that incorporates two vaccine suppliers with different efficacy rates and prices. We propose two subsidy schemes, one based on vaccine price and the other based on vaccine efficacy rate, with the aim of improving vaccination rates. Our results demonstrate that the price-based subsidy scheme (PSS) leads to a higher vaccine price compared to the efficacy-based subsidy scheme (ESS). Moreover, the ESS proves more effective in increasing the equilibrium vaccination rate when the efficacy rate is low, while the PSS is more effective when the efficacy rate is high. However, if the government’s budget is limited, the ESS is more likely to improve the equilibrium vaccination rate compared to the PSS. |
abstractGer |
Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consumers. This paper develops a game-theoretic model that incorporates two vaccine suppliers with different efficacy rates and prices. We propose two subsidy schemes, one based on vaccine price and the other based on vaccine efficacy rate, with the aim of improving vaccination rates. Our results demonstrate that the price-based subsidy scheme (PSS) leads to a higher vaccine price compared to the efficacy-based subsidy scheme (ESS). Moreover, the ESS proves more effective in increasing the equilibrium vaccination rate when the efficacy rate is low, while the PSS is more effective when the efficacy rate is high. However, if the government’s budget is limited, the ESS is more likely to improve the equilibrium vaccination rate compared to the PSS. |
abstract_unstemmed |
Vaccination is acknowledged as the most cost-effective means of combating epidemics. However, the free-riding behavior frequently results in vaccination rates falling below the socially optimal level. To address this issue, governments frequently offer subsidies to either vaccine suppliers or consumers. This paper develops a game-theoretic model that incorporates two vaccine suppliers with different efficacy rates and prices. We propose two subsidy schemes, one based on vaccine price and the other based on vaccine efficacy rate, with the aim of improving vaccination rates. Our results demonstrate that the price-based subsidy scheme (PSS) leads to a higher vaccine price compared to the efficacy-based subsidy scheme (ESS). Moreover, the ESS proves more effective in increasing the equilibrium vaccination rate when the efficacy rate is low, while the PSS is more effective when the efficacy rate is high. However, if the government’s budget is limited, the ESS is more likely to improve the equilibrium vaccination rate compared to the PSS. |
collection_details |
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title_short |
The performance of government subsidy schemes in a competitive vaccine market considering consumers' free-riding behavior |
remote_bool |
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doi_str |
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up_date |
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