In a Science magazine article “Market Design to Accelerate COVID-19 Vaccine Supply,” Christopher Snyder, the Joel Z. and Susan Hyatt Professor of Economics, and his co-author discuss funding, development, and distribution of COVID-19 vaccines in the U.S. and throughout the world.
Snyder is a member of the organization Accelerating Health Technologies, which has been analyzing the financing of health technology for COVID-19. The research team is conducting timely, concrete actions and policies to address vaccine supply shortfalls that can help inform policy and make a tangible difference in tackling some of the many challenges posed by the pandemic.
“The issue is, are governments willing to pay the social value of these products?” says Snyder. “And so, what tends to happen is that there’s a price cap that could limit how lucrative the market is. So that could actually dull incentives to develop vaccines.”