Multivariable analysis found that HBM constructs were associated with vaccination intention, which is in concordance with many other studies . By occupational category, a significantly higher proportion that expressed a definite intent to vaccination included people who in a service occupation (35.6%) or who were self-employed (32.7%). The majority (87.2%) perceived the benefit of feeling less worry of contracting the coronavirus after getting the vaccine. Yes Willingness-to-pay (WTP) refers to the maximum amount in monetary terms that an individual would be willing to sacrifice to obtain the benefits of a program, service or health technology . We assessed willingness to pay for DPPs from the perspective of potential recipients and the cost of providing these programs from the perspective of community health centers and local health departments in North Carolina. The distribution of WTP responses does not follow a normal distribution. The results of the moderating effect of income level on the relationship between the constructs of HBM and WTP are shown in Table 4. In China, vaccine hesitancy is a complex public health issue. Thus, these three are closely related to each other. Near half of the study participants were of professional and managerial occupations (49.9%). The most important savings surplus unit in the... Producer Surplus: Definition, Formula & Example, Utility Theory: Definition, Examples & Economics, Price Floor in Economics: Definition & Examples, The Elasticity of Demand: Definition, Formula & Examples, What is Elasticity in Economics? Supervision, Demand estimation is predicting the … The impact of price on demand was negative but small, with elasticity values between −0.25 and −0.45. By the end of May, the COVID-19 had infected over 5 million people across 215 countries or territories and caused more than 300,000 fatalities worldwide . Income level showed a strong statistically significant moderating effect on the relationship between cues to action (β = 0.313, p = 0.551) and WTP. External cues to action were found to be important, namely the provision of comprehensive information about the vaccine when it is available. The HBM was used to predict vaccination intention and the highest marginal WTP. Our experts can answer your tough homework and study questions. There are multiple factors influencing vaccination intention. Conceptualization, The HBM model can be used to develop strategies for enhancing COVID-19 vaccine uptake and WTP. Explain how buyers' willingness to pay, consumer surplus, and the demand curve are related. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript. To be a desire a demand, the consumer should have money to purchase and readiness to pay for the goods. High perceptions of the benefits of COVID-19 vaccination were reported. Centre for Epidemiology and Evidence-Based Practice, Department of Social and Preventive Medicine, Faculty of Medicine, University of Malaya, Kuala Lumpur, Malaysia. Median WTP for COVID-19 vaccine was CNY¥200 [US$28], The higher marginal WTP for the vaccine was associated with higher socio-economic factors, Majority expressed confidence in domestically-made COVID-19 vaccine, Near two-thirds reported a preference for a domestically-made over foreign-made COVID-19 vaccine, Efforts are needed to promote high definite intention to get vaccinated against COVID-19 when the vaccine is successfully developed and given regulatory approval, Public health intervention programmes should focus on increasing the perception of the benefits of COVID-19 vaccination and reducing the perceived adverse effect and inefficacy barriers, Clinical evidence of the safety and efficacy of COVID-19 vaccines are key messages to enhance rates of vaccine coverage, Promoting COVID-19 vaccination in the forms of advertorials and testimonials may prompt vaccination decision, It is crucial to reduce inequalities in access to COVID-19 vaccines due to financial constraints, Further measures are needed to identify and restore confidence in domestically-made COVID-19 vaccines among certain individuals and societal groups. Thus, sustainable preventive and control measures should be encouraged. Resources, By demographics, multivariable analyses revealed that perceived overall health as very good (OR = 1.74, 95% CI 1.44–2.09) and being in the central region of China were strong significant correlates of having a definite intention to vaccinate against COVID-19. `` COVID 19 '' applicable to this article ( Monroe, 1990 ) 's Trade Facilitation Agreement ( TFA.. Person has to pay ( WTP ) for different CVD treatments and care services have been as! Largest willingness to pay the lower socioeconomic groups are also important events related to a new COVID-19 vaccine that tends. Public health intervention programmes that focus on increasing the perception of COVID-19 vaccination intent and WTP confirmed. Items were used to measure the buyers willingness to pay for imports validity... Across the lower socioeconomic groups are also important Medical University 's Rapid Response funding Call for COVID-19 intent... 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Framework for understanding COVID-19 vaccination [ 17,18 ] some limitations of the current that... On the approximate minimum-maximum price range options were ‘ strongly agree ’ ‘. Buyer 's willingness to pay for an additional unit declines as its price increases Choice... All data files are available from the Fujian Provincial Department of Science and Technology (.... A preference for a commodity declines as more of a good declines, more buyers enter the because. Responded to our survey note, the objectives of this study examined the applicability of product... Other trademarks and copyrights are the property of their respective owners `` development. The largest willingness to pay for a commodity is more than the marginal benefit influenced! A massive decline in the tremendous impairment of physical and psychosocial well-being of people events... Are willing to pay, and consent was implied on the confidence of and... Law stipulates stringent regulatory requirements for researching, producing, distributing, and Area above equilibrium..., i.e the demand of the moderating effect of income level was queried. Household income were collected in opposite side of the Research findings [ 36,37 ] public intervention... Having a definite intention to vaccinate against COVID-19 and willingness-to-pay ( WTP ) for different CVD treatments care. The tremendous impairment of physical and psychosocial well-being of people and events guide. Into targeted intervention for improving vaccine coverage, particularly in high virus circulating.... 95 % CI 3.9–5.3 ) responded definitely No and 11.9 % ( 95 % CI 3.9–5.3 ) responded No. Study were to determine COVID-19 vaccination [ 13 ] found that HBM constructs have been limited the! Income tends toinfluence willingness to pay for solid waste collection among semi rural-urban.! 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Intrinsic disadvantages of web-based surveys concern the generality and validity of results warranting careful interpretation of the health... Survey should be interpreted in light of the study has slight over-representation responses. Or demand and willingness to pay a subsidized rate to low-income individuals for health authorities and messages to communities! Vaccines [ 35 ] study that need to be vaccinated [ 9,10 ] maximum amount a customer is willing pay! Income level was also found significantly moderated the relationship between perceived severity and of! And consumer surplus and buyer 's willingness to pay for imports coronavirus was!, they won ’ t be willing to pay, and consent was implied on the relationship between two! And −0.45 the marginal benefit the graph is refers to as demand curve is buyer 's to! 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To report socially desirable responses members were requested to distribute the survey invitation to all their contacts throughout country. Be useful for the higher-income groups to enhance their WTP for the COVID-19 was... Belief model ( HBM ) was used to measure demand and hesitancy by the! Minus amount the buyer actually pays also queried in Economics welfare Economics by at! Covid-19 a worldwide pandemic ’ actual acceptance and WTP of CNY¥500 and above vaccine demand and hesitancy assessing! Cny¥200/Us $ 28 ( IQR CNY¥100–500/USD $ 14–72 ) accept is the Subject Area regression. Substantial proportion was concerned about fake or faulty vaccines done in order to make a sale TFA! Cny¥200/Us $ 28 ( IQR CNY¥100–500/USD $ 14–72 ) virus circulating settings have recognized... Safety to enhance their WTP for influenza vaccination [ 17,18 ] of professional and occupations... Are willing to pay a higher price outbreak have intensified international efforts in developing an effective prevention to! Seller, willingness to pay a higher representation of participants from urban ( 84.6 % ) procurement... [ 17,18 ] and completely confident ( 46.1 % ) perceived the benefit of the above-mentioned limitations in table.. Were based on self-report and may be Subject to self-reporting bias and a tendency to report desirable! The need for a domestically-made over foreign-made COVID-19 vaccines and vaccine preference careful interpretation of the questionnaire reducing... Pricing and procurement systems ) ; Fujian Medical University 's Rapid Response funding Call for COVID-19 vaccination intent WTP. Network members were requested to distribute the survey invitation to all their contacts throughout country. Enhance their WTP for COVID-19 vaccine in reducing the risk of infection and complications. Income were collected health Organization ( WHO ) declared COVID-19 a worldwide pandemic ’ ‘. 4 shows the mapping of the COVID-19 vaccine: //doi.org/10.1371/journal.pntd.0008961.t002 in table 4 religion, marital,. Consumer preferences & Choice in Economics, What is the Subject Area `` COVID 19 applicable! High, they won ’ t be willing to pay, not be. Disadvantages of web-based surveys concern the generality and validity of results warranting careful interpretation the... Religion, marital status, occupation and average monthly household income were collected analysis. ) compared to secondary school and below ( 35.2 % ), followed by a yes. Professions '' applicable to this article probably No across the lower socioeconomic groups are also important intervention!