IDEAS home Printed from https://ideas.repec.org/a/spr/sjecst/v159y2023i1d10.1186_s41937-023-00116-9.html
   My bibliography  Save this article

Willingness to pay for an annual vaccine in an endemic COVID-19 scenario: a contingent valuation study in Metro Manila, Philippines

Author

Listed:
  • Rosalina Palanca-Tan

    (Ateneo de Manila University)

Abstract

Using the Contingent Valuation Method, this paper estimated willingness to pay (WTP) for annual COVID-19 booster vaccines for the endemic phase of the disease. The study found that, on the average, Metro Manila households would be WTP PhP2,199.71–2,410.50 (US$42.71–46.81) for a one-dose vaccine with 90% efficacy for one year. This WTP estimate is a measure of the perceived benefits from preventing COVID-19 infection, suggesting the potential for private markets to cater to those who prefer to obtain the annual booster COVID-19 vaccine privately, while a public vaccination program that subsidizes partially or fully the cost of the vaccine for those with lower capacity to pay is likely to pass a social cost–benefit assessment. Consistent with economic theory, WTP was found to significantly decrease with vaccine price and increase with income. Further, the study found general acceptance (measured in terms of the Health Benefit Model constructs) of COVID-19 vaccines among Metro Manila households despite the dengue vaccine controversy in the country immediately prior to the COVID-19 pandemic.

Suggested Citation

  • Rosalina Palanca-Tan, 2023. "Willingness to pay for an annual vaccine in an endemic COVID-19 scenario: a contingent valuation study in Metro Manila, Philippines," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 159(1), pages 1-12, December.
    • Handle: RePEc:spr:sjecst:v:159:y:2023:i:1:d:10.1186_s41937-023-00116-9
    DOI: 10.1186/s41937-023-00116-9
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1186/s41937-023-00116-9
    File Function: Abstract
    Download Restriction: no
    File URL: https://libkey.io/10.1186/s41937-023-00116-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Jin‐Tan Liu & James K. Hammitt & Jung‐Der Wang & Meng‐Wen Tsou, 2005. "Valuation of the risk of SARS in Taiwan," Health Economics, John Wiley & Sons, Ltd., vol. 14(1), pages 83-91, January.
    2. Henrik Hammar & Olof Johansson‐Stenman, 2004. "The value of risk‐free cigarettes – do smokers underestimate the risk?," Health Economics, John Wiley & Sons, Ltd., vol. 13(1), pages 59-71, January.
    3. Fredrik Carlsson & Olof Johansson-Stenman, 2000. "Willingness to pay for improved air quality in Sweden," Applied Economics, Taylor & Francis Journals, vol. 32(6), pages 661-669.
    4. Krupnick, Alan & Alberini, Anna & Cropper, Maureen & Simon, Nathalie & O'Brien, Bernie & Goeree, Ron & Heintzelman, Martin, 2002. "Age, Health and the Willingness to Pay for Mortality Risk Reductions: A Contingent Valuation Survey of Ontario Residents," Journal of Risk and Uncertainty, Springer, vol. 24(2), pages 161-186, March.
    5. Cropper, Maureen L. & Haile, Mitiku & Lampietti, Julian & Poulos, Christine & Whittington, Dale, 2004. "The demand for a malaria vaccine: evidence from Ethiopia," Journal of Development Economics, Elsevier, vol. 75(1), pages 303-318, October.
    6. Yulan Lin & Zhijian Hu & Qinjian Zhao & Haridah Alias & Mahmoud Danaee & Li Ping Wong, 2020. "Understanding COVID-19 vaccine demand and hesitancy: A nationwide online survey in China," PLOS Neglected Tropical Diseases, Public Library of Science, vol. 14(12), pages 1-22, December.
    7. Islam, Ziaul & Maskery, Brian & Nyamete, Andrew & Horowitz, Mark S. & Yunus, Mohammad & Whittington, Dale, 2008. "Private demand for cholera vaccines in rural Matlab, Bangladesh," Health Policy, Elsevier, vol. 85(2), pages 184-195, February.
    8. W. Michael Hanemann, 1984. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 332-341.
    9. Tsutsui, Yoshiro & Benzion, Uri & Shahrabani, Shosh, 2012. "Economic and behavioral factors in an individual's decision to take the influenza vaccination in Japan," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(5), pages 594-602.
    10. Johannesson, Magnus & Johansson, Per-Olov, 1997. "Quality of life and the WTP for an increased life expectancy at an advanced age," Journal of Public Economics, Elsevier, vol. 65(2), pages 219-228, August.
    11. Shosh Shahrabani & Uri Benzion, 2010. "Workplace Vaccination and Other Factors Impacting Influenza Vaccination Decision among Employees in Israel," IJERPH, MDPI, vol. 7(3), pages 1-17, March.
    12. Ian J. Bateman & Richard T. Carson & Brett Day & Michael Hanemann & Nick Hanley & Tannis Hett & Michael Jones-Lee & Graham Loomes, 2002. "Economic Valuation with Stated Preference Techniques," Books, Edward Elgar Publishing, number 2639.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Henrik Andersson & James Hammitt & Gunnar Lindberg & Kristian Sundström, 2013. "Willingness to Pay and Sensitivity to Time Framing: A Theoretical Analysis and an Application on Car Safety," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 56(3), pages 437-456, November.
    2. Henrik Andersson & James K. Hammitt & Kristian Sundström, 2015. "Willingness to Pay and QALYs: What Can We Learn about Valuing Foodborne Risk?," Journal of Agricultural Economics, Wiley Blackwell, vol. 66(3), pages 727-752, September.
    3. Sylvia Brandt & Felipe Vásquez & Michael Hanemann, 2008. "Designing Contingent Valuation Scenarios for Environmental Health: The Case of Childhood Asthma," Working Papers 11-2008, Departamento de Economía, Universidad de Concepción.
    4. Yun-Ju Chen & Sheng Ming Hsu & Shu-Yi Liao & Tsung-Chi Chen & Wei-Chun Tseng, 2019. "Natural Gas or Algal Reef: Survey-Based Valuations of Pro-Gas and Pro-Reef Groups Specifically for Policy Advising," Energies, MDPI, vol. 12(24), pages 1-18, December.
    5. Balmford, Ben & Bateman, Ian J. & Bolt, Katherine & Day, Brett & Ferrini, Silvia, 2019. "The value of statistical life for adults and children: Comparisons of the contingent valuation and chained approaches," Resource and Energy Economics, Elsevier, vol. 57(C), pages 68-84.
    6. Carol Vargas & Ramón Rosales, 2006. "Valoración Económica De La Prevención Pública De La Malaria En Los Hogares Del Caquetá," Documentos CEDE 3749, Universidad de los Andes, Facultad de Economía, CEDE.
    7. Kerstin K Zander & Gillian B Ainsworth & Jürgen Meyerhoff & Stephen T Garnett, 2014. "Threatened Bird Valuation in Australia," PLOS ONE, Public Library of Science, vol. 9(6), pages 1-9, June.
    8. Waranan Tantiwat & Christopher Gan & Wei Yang, 2021. "The Estimation of the Willingness to Pay for Air-Quality Improvement in Thailand," Sustainability, MDPI, vol. 13(21), pages 1-23, November.
    9. Domínguez-Torreiro, Marcos & Soliño, Mario, 2011. "Provided and perceived status quo in choice experiments: Implications for valuing the outputs of multifunctional rural areas," Ecological Economics, Elsevier, vol. 70(12), pages 2523-2531.
    10. Anastasio J. Villanueva & Klaus Glenk & Macario Rodríguez-Entrena, 2017. "Protest Responses and Willingness to Accept: Ecosystem Services Providers’ Preferences towards Incentive-Based Schemes," Journal of Agricultural Economics, Wiley Blackwell, vol. 68(3), pages 801-821, September.
    11. Miguel Ángel Tobarra-González, 2015. "A new recoding method for treating protest responses in contingent valuation studies using travel cost data," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 58(8), pages 1479-1489, August.
    12. Mamine, Fateh & Fares, M'hand & Minviel, Jean Joseph, 2020. "Contract Design for Adoption of Agrienvironmental Practices: A Meta-analysis of Discrete Choice Experiments," Ecological Economics, Elsevier, vol. 176(C).
    13. Ndebele, Tom & Forgie, Vicky, 2017. "Estimating the economic benefits of a wetland restoration programme in New Zealand: A contingent valuation approach," Economic Analysis and Policy, Elsevier, vol. 55(C), pages 75-89.
    14. Zhaoyi Shang & Yue Che & Kai Yang & Yu Jiang, 2012. "Assessing Local Communities’ Willingness to Pay for River Network Protection: A Contingent Valuation Study of Shanghai, China," IJERPH, MDPI, vol. 9(11), pages 1-17, October.
    15. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489.
    16. Paul Mwebaze & Jeff Bennett & Nigel W. Beebe & Gregor J. Devine & Paul Barro, 2018. "Economic Valuation of the Threat Posed by the Establishment of the Asian Tiger Mosquito in Australia," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 71(2), pages 357-379, October.
    17. Lankia, Tuija & Neuvonen, Marjo & Pouta, Eija & Sievänen, Tuija, 2014. "Willingness to contribute to the management of recreational quality on private lands in Finland," Journal of Forest Economics, Elsevier, vol. 20(2), pages 141-160.
    18. Subade, Rodelio F. & Francisco, Herminia A., 2014. "Do non-users value coral reefs?: Economic valuation of conserving Tubbataha Reefs, Philippines," Ecological Economics, Elsevier, vol. 102(C), pages 24-32.
    19. Gebreegziabher, Z. & Mekonnen, A. & Beyene, A.D. & Hagos, F., 2018. "Valuation of access to irrigation water in rural Ethiopia: application of choice experiment and contingent valuation methods," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277168, International Association of Agricultural Economists.
    20. Chabba, Meenakshi & Bhat, Mahadev G. & Sarmiento, Juan Pablo, 2022. "Risk-based benefit-cost analysis of ecosystem-based disaster risk reduction with considerations of co-benefits, equity, and sustainability," Ecological Economics, Elsevier, vol. 198(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sjecst:v:159:y:2023:i:1:d:10.1186_s41937-023-00116-9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.