Using Contingent Valuation Method to Estimate Adults’ Willingness to Pay for a Future Coronavirus 2019 Vaccination

Vaccines are recognized as the most effective strategy for long-term prevention of coronavirus disease 2019 (COVID-19) because they can reduce morbidity and mortality. The purpose of the present study was to evaluate willingness to pay (WTP) for a future COVID-19 vaccination among young adults in So...

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Bibliographic Details
Published in:Value in health regional issues 2021-05, Vol.24, p.240-246
Main Authors: Vo, Nam Xuan, Huyen Nguyen, Tram Thi, Van Nguyen, Pol, Tran, Quang Vinh, Vo, Trung Quang
Format: Article
Language:English
Subjects:
contingent valuation method
COVID-19
Themed Section: COVID-19
vaccination
Vietnam
willingness to pay
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Summary:Vaccines are recognized as the most effective strategy for long-term prevention of coronavirus disease 2019 (COVID-19) because they can reduce morbidity and mortality. The purpose of the present study was to evaluate willingness to pay (WTP) for a future COVID-19 vaccination among young adults in Southern Vietnam. A cross-sectional, descriptive, and analytic study was undertaken with data collected from a community-based survey in southern Vietnam for 2 weeks in May 2020. The contingent valuation method was used to estimate WTP for COVID-19 vaccine. The average amount that respondents were willing to pay for the vaccine was US$ 85.9 2 ± 69.01. We also found the differences in WTP according to sex, living area, monthly income, and the level of self-rated risk of COVID-19. Our findings possibly contribute to the implementation of a pricing policy when the COVID-19 vaccine is introduced in Vietnam.
ISSN:2212-1099
2212-1102
DOI:10.1016/j.vhri.2021.01.002