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Would Monetary Incentives to COVID-19 vaccination reduce motivation?

Author

Listed:
  • Eiji Yamamura
  • Yoshiro Tsutsui
  • Fumio Ohtake

Abstract

Some people did not get the COVID-19 vaccine even though it was offered at no cost. A monetary incentive might lead people to vaccinate, although existing studies have provided different findings about this effect. We investigate how monetary incentives differ according to individual characteristics. Using panel data with online experiments, we found that (1) subsidies reduced vaccine intention but increased it after controlling heterogeneity; (2) the stronger the social image against the vaccination, the lower the monetary incentive; and (3) persistently unvaccinated people would intend to be vaccinated only if a large subsidy was provided.

Suggested Citation

  • Eiji Yamamura & Yoshiro Tsutsui & Fumio Ohtake, 2023. "Would Monetary Incentives to COVID-19 vaccination reduce motivation?," Papers 2311.11828, arXiv.org.
    • Handle: RePEc:arx:papers:2311.11828
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    More about this item

    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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