This week's European Economic Experts Panel statements:
A) Offering substantially higher prices per dose would have resulted in larger capacity investments by vaccine makers and accelerated distribution in Europe significantly.
B) In the current situation, paying for more production capacity would be better than offering higher prices for vaccines.
C) If the EU started paying prices above 100 euros per dose, it would on net reduce the cost of the pandemic to the EU via more lives saved and shorter lockdowns.
Keyword: diseases
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This week’s IGM Economic Experts Panel statement:
A) Declining to be vaccinated against contagious diseases such as measles imposes costs on other people, which is a negative externality.
B) Considering the costs of restricting free choice, and the share of people in the US who choose not to vaccinate their children for measles, the social benefit of mandating measles vaccines for all Americans (except those with compelling medical reasons) would exceed the social cost.
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