Vaccination against COVID-19: behavioral economics models

Abstract

The problem of choice plays an important role in the life of a modern person. Currently, behavioral economics is viewed as a qualitatively positive component applied to the accompanying traditional theory of consumer behavior. This is due to the fact that with the help of behavioral economics, it is possible to explain various contradictory ways of performing certain actions that underlie the choices and judgments of people and cannot be explained by classical economics. In this article, behavioral economics applies well to the pharmaceutical field, specifically to issues related to vaccination in the context of COVID-19. However, despite the fact that the pharmaceutical field is a very fertile ground for research in the field of behavioral economics, research on consumer behavior in the context of coronavirus infection is practically absent. In this paper, we have tried to consider the different perspectives associated with the application of behavioral economics approaches and making decisions about vaccination. The research was carried out using econometrics and mathematical methods. In this regard, the purpose of this study is to explain consumer behavior on issues related to vaccination and to build a mathematical model. This article looks at answers to questions such as behavioral economics can prevent the spread of a pandemic. Provides insight into why compliance is tedious for the consumer and what benefits vaccination can bring to consumers. The paper provides a broad overview showing how behavioral economics strategies can influence and be implemented in various areas of the pharmaceutical field. As a result of the study, the main trends affecting consumer behavior during vaccination were identified and a mathematical model of consumer choice associated with vaccination against COVID-19 was described. The results obtained contribute to the development of behavioral economics in extreme situations.