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Economic and behavioral factors in an individual's decision to take the influenza vaccination in Japan

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Author Info

  • Tsutsui, Yoshiro
  • Benzion, Uri
  • Shahrabani, Shosh

Abstract

In this paper, we investigate what people in Japan consider when deciding to take the influenza vaccination. We develop an economic model to explain the mechanism by which people decide to take the influenza vaccination. Using our model and the data obtained from a large-scale survey we conducted in Japan, we demonstrated that people make rational decisions about vaccinations after considering its cost and benefits. People consider the probability of infection, severity of the disease, and the vaccination's effectiveness and side effects. The time discount rate is another consideration because the timing of costs and benefits of the vaccination differ. Risk aversion (fearing the contraction of the flu and vaccination's side effects) also affects the decision. People also deviate from rationality—altruism and status quo bias play important roles in the decision-making. Overconfidence indirectly affects the decision via perception variables such as the subjective probability of infection and assessment of influenza's severity. The decision also depends on attributes such as gender, age, and marital status. If the general perception of flu and vaccination is inaccurate, supplying accurate information regarding those may increase or decrease the vaccination rate, depending on whether this perception is, respectively, higher or lower than the objective rates. Thus, we examine whether the general perception is biased. Our survey suggests that disseminating information on the vaccination's effectiveness may increase the rate of vaccination, whereas that on the probability of infection may have the opposite effect.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

Volume (Year): 41 (2012)
Issue (Month): 5 ()
Pages: 594-602

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Handle: RePEc:eee:soceco:v:41:y:2012:i:5:p:594-602

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Web page: http://www.elsevier.com/locate/inca/620175

Related research

Keywords: Influenza; Vaccination; Survey; Time preference; Japan;

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References

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  1. John Mullahy, 1998. "It'll Only Hurt a Second? Microeconomic Determinants of Who Gets Flu Shots," NBER Working Papers 6500, National Bureau of Economic Research, Inc.
  2. Knetsch, Jack L & Sinden, J A, 1984. "Willingness to Pay and Compensation Demanded: Experimental Evidence of an Unexpected Disparity in Measures of Value," The Quarterly Journal of Economics, MIT Press, vol. 99(3), pages 507-21, August.
  3. Barsky, Robert B, et al, 1997. "Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study," The Quarterly Journal of Economics, MIT Press, vol. 112(2), pages 537-79, May.
  4. Brito, Dagobert L. & Sheshinski, Eytan & Intriligator, Michael D., 1991. "Externalities and compulsary vaccinations," Journal of Public Economics, Elsevier, vol. 45(1), pages 69-90, June.
  5. Shosh Shahrabani & Uri Benzion & Gregory Yom Din, 2009. "Factors affecting nurses’ decision to get the flu vaccine," The European Journal of Health Economics, Springer, vol. 10(2), pages 227-231, May.
  6. Tsutsui, Yoshiro & Benzion, Uri & Shahrabani, Shosh & Din, Gregory Yom, 2010. "A policy to promote influenza vaccination: A behavioral economic approach," Health Policy, Elsevier, vol. 97(2-3), pages 238-249, October.
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