Pricing the COVID-19 Vaccine: A Mathematical Approach
According to the World Health Organization, development of the COVID-19 vaccine is occurring in record time. Administration of the vaccine has started the same year as the declaration of the COVID-19 pandemic. The United Nations emphasized the importance of providing COVID-19 vaccines as "a global public good", which is accessible and affordable world-wide. Pricing the COVID-19 vaccines is a controversial topic. We use optimization and game theoretic approaches to model the COVID-19 U.S. vaccine market as a duopoly with two manufacturers Pfizer-BioNTech and Moderna. The results suggest that even in the context of very high production and distribution costs, the government can negotiate prices with the manufacturers to keep public sector prices as low as possible while meeting demand and ensuring each manufacturer earns a target profit. Furthermore, these prices are consistent with those currently predicted in the media.
Code (0)
등록된 구현이 없습니다.
Similar Papers 제목 키워드 기반
Determination of an Optimal Control Strategy for Vaccine Administration in COVID-19 Pandemic Treatment
During decades, mathematical models have been used to predict the behavior of physical and biologic systems, and to define strategies aiming the minimization of the effects regarding different types of diseases. In the p…
Using a physical model and aggregate data to estimate the spreading of Covid-19 in Israel in the presence of waning immunity and competing variants
In more than two years since the COVID-19 virus was first detected in China, hundreds of millions of individuals have been infected, and millions have died. Aside from the immediate need for medical solutions (such as va…
Modeling the COVID-19 pandemic: A primer and overview of mathematical epidemiology
Since the start of the still ongoing COVID-19 pandemic, there have been many modeling efforts to assess several issues of importance to public health. In this work, we review the theory behind some important mathematical…
EpidemiologyModeling COVID-19 vaccine-induced immunological memory development and its links to antibody level and infectiousness
COVID-19 vaccines have proven to be effective against SARS-CoV-2 infection. However, the dynamics of vaccine-induced immunological memory development and neutralizing antibodies generation are not fully understood, limit…
Interplay between COVID-19 vaccines and social measures for ending the SARS-CoV-2 pandemic
The development and authorization of COVID-19 vaccines has provided the clearest path forward to eliminate community spread hence end the ongoing SARS-CoV-2 pandemic. However, the limited pace at which the vaccine can be…