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  • May 2021
  • Article
  • AEA Papers and Proceedings

Preparing for a Pandemic: Accelerating Vaccine Availability

By: Amrita Ahuja, Susan Athey, Arthur Baker, Eric Budish, Juan Camilo Castillo, Rachel Glennerster, Scott Duke Kominers, Michael Kremer, Jean Lee, Canice Prendergast, Christopher M. Snyder, Alex Tabarrok, Brandon Joel Tan and Witold Wiecek
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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.

Keywords

Vaccines; Procurement; Health Pandemics; Health Care and Treatment; Acquisition; Cooperation

Citation

Ahuja, Amrita, Susan Athey, Arthur Baker, Eric Budish, Juan Camilo Castillo, Rachel Glennerster, Scott Duke Kominers, Michael Kremer, Jean Lee, Canice Prendergast, Christopher M. Snyder, Alex Tabarrok, Brandon Joel Tan, and Witold Wiecek. "Preparing for a Pandemic: Accelerating Vaccine Availability." AEA Papers and Proceedings 111 (May 2021): 331–335.
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About The Author

Scott Duke Kominers

Entrepreneurial Management
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