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Nicolas Houy
 
''Are better vaccines really better? The case of a simple stochastic epidemic SIR model''
( 2013, Vol. 33 No.1 )
 
 
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.
 
 
Keywords: Vaccines, Market structure, Monopoly, Epidemiology, SIR model.
JEL: I1 - Health: General
 
Manuscript Received : Jan 11 2013 Manuscript Accepted : Jan 23 2013

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