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| Nicolas Houy |
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| ''Are better vaccines really better? The case of a simple stochastic epidemic SIR model'' |
| ( 2013, Vol. 33 No.1 ) |
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| We consider a model of vaccine market where the buyer is centralized and shows an endogenous demand function based on a simple stochastic SIR model. When the seller is a monopoly, we show that better vaccines (in the sense of greater efficiency or inducing less side-effects) do not imply greater total surplus, greater buyer surplus or even greater profits. Since we consider a centralized buyer, our results cannot be caused by the well-known epidemiological externality of vaccination. |
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| Keywords: Vaccines, Market structure, Monopoly, Epidemiology, SIR model. |
JEL: I1 - Health: General
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| Manuscript Received : Jan 11 2013 | | Manuscript Accepted : Jan 23 2013 |
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