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Steady-State Social Distancing and Vaccination

Author

Listed:
  • Christopher Avery
  • Frederick Chen
  • David McAdams

Abstract

This paper analyzes an economic-epidemiological model of infectious disease where it is possible to become infected more than once and individual agents make endogenous choices of social distancing and vaccine adoption. Protective actions adopted by any one person reduce future risks to other people. The positive externalities associated with these behaviors provide motivation for vaccine and social-distancing subsidies, but subsidizing one protective action reduces incentives for other protective actions. A vaccine subsidy increases vaccine adoption and reduces steady-state infection prevalence; a social distancing subsidy can either increase or reduce steady-state infection prevalence.

Suggested Citation

  • Christopher Avery & Frederick Chen & David McAdams, 2024. "Steady-State Social Distancing and Vaccination," American Economic Review: Insights, American Economic Association, vol. 6(1), pages 1-19, March.
    • Handle: RePEc:aea:aerins:v:6:y:2024:i:1:p:1-19
    DOI: 10.1257/aeri.20220699
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    More about this item

    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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