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Preparing for a Pandemic: Accelerating Vaccine Availability

Author

Listed:
  • Amrita Ahuja

    (Douglas B. Marshall, Jr. Family Foundation)

  • Susan Athey

    (Stanford University - Stanford Graduate School of Business)

  • Arthur Baker

    (University of Chicago - Department of Economics)

  • Eric Budish

    (University of Chicago - Booth School of Business)

  • Juan Camilo Castillo

    (University of Pennsylvania - Department of Economics)

  • Rachel Glennerster

    (Foreign, Commonwealth and Development Office)

  • Scott Duke Kominers

    (Harvard University - Harvard Business School)

  • Michael Kremer

    (University of Chicago - Department of Economics)

  • Jean Lee

    (World Bank)

  • Candice Prendergast

    (University of Chicago - Booth School of Business)

  • Christopher M. Snyder

    (Dartmouth College - Department of Economics)

  • Alex Tabborok

    (George Mason University - Department of Economics)

  • Brandon Joel Tan

    (Harvard University - Department of Economics)

  • Witold Wiecek

    (WAW Statistical Consulting)

Abstract

Vaccinating the world’s population quickly in a pandemic has enormous health and economic benefits. We analyze the problem faced by governments in determining the scale and structure of procurement for vaccines. We analyze alternative approaches to procurement, arguing that buyers should directly fund manufacturing capacity and shoulder most of the risk of failure, while maintaining some direct incentives for speed. We analyzed the optimal portfolio of vaccine investments for countries with different characteristics as well as the implications for international cooperation. Our analysis, considered in light of the experience of 2020, suggests lessons for future pandemics.

Suggested Citation

  • Amrita Ahuja & Susan Athey & Arthur Baker & Eric Budish & Juan Camilo Castillo & Rachel Glennerster & Scott Duke Kominers & Michael Kremer & Jean Lee & Candice Prendergast & Christopher M. Snyder & Al, 2021. "Preparing for a Pandemic: Accelerating Vaccine Availability," Working Papers 2021-08, Becker Friedman Institute for Research In Economics.
    • Handle: RePEc:bfi:wpaper:2021-08
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    Cited by:

    1. Evenett,Simon J. & Hoekman,Bernard M. & Rocha,Nadia & Ruta,Michele, 2021. "The Covid-19 Vaccine Production Club : Will Value Chains Temper Nationalism?," Policy Research Working Paper Series 9565, The World Bank.
    2. Snyder, Christopher M. & Hoyt, Kendall & Gouglas, Dimitrios, 2023. "An optimal mechanism to fund the development of vaccines against emerging epidemics," Journal of Health Economics, Elsevier, vol. 91(C).
    3. Chiappinelli, Olga & Giuffrida, Leonardo M. & Spagnolo, Giancarlo, 2025. "Public procurement as an innovation policy: Where do we stand?," International Journal of Industrial Organization, Elsevier, vol. 100(C).
    4. Veronika Grimm & Franziska K. Lembcke & Milena Schwarz, 2021. "Impffortschritt in Deutschland und der Welt: Chancen und Risiken [Opportunities and Risks of Vaccination Progress]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(4), pages 266-275, April.
    5. Ockenfels Axel, 2021. "Marktdesign für eine resiliente Impfstoff-produktion," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 22(3), pages 259-269, September.
    6. Kyle, Margaret K., 2022. "Incentives for pharmaceutical innovation: What’s working, what’s lacking," International Journal of Industrial Organization, Elsevier, vol. 84(C).
    7. Agarwal, Ruchir & Gaule, Patrick, 2022. "What drives innovation? Lessons from COVID-19 R&D," Journal of Health Economics, Elsevier, vol. 82(C).
    8. Scott Duke Kominers & Alex Tabarrok, 2022. "Vaccines and the Covid-19 pandemic: lessons from failure and success," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 38(4), pages 719-741.
    9. Nikhil Agarwal & Andrew Komo & Chetan A. Patel & Parag A. Pathak & M. Utku Ünver, 2021. "The Trade-off Between Prioritization and Vaccination Speed Depends on Mitigation Measures," NBER Working Papers 28519, National Bureau of Economic Research, Inc.

    More about this item

    JEL classification:

    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health

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