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Preparing for a Pandemic: Accelerating Vaccine Availability

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.

wp2023.pdf (514.87 KB)


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
Witold Wiecek
Publication Date
January, 2021