Using Contingent Valuation Method to Estimate Adults’ Willingness to Pay for a Future Coronavirus 2019 Vaccination

Vo, Nam Xuan; Huyen Nguyen, Tram Thi; Van Nguyen, Pol; Tran, Quang Vinh; Vo, Trung Quang

OBJECTIVES: Vaccines are recognized as the most effective strategy for long-term prevention of coronavirus disease 2019 (Covid-19) because they can reduce morbidity and mortality. The purpose of the present study was to evaluate willingness to pay (WTP) for a future Covid-19 vaccination among young adults in Southern Vietnam. METHODS: A cross-sectional, descriptive, and analytic study was undertaken with data collected from a community-based survey in southern Vietnam for 2 weeks in May 2020. The contingent valuation method was used to estimate WTP for Covid-19 vaccine. The average amount that respondents were willing to pay for the vaccine was US$ 85.9 2 ± 69.01. RESULTS: We also found the differences in WTP according to sex, living area, monthly income, and the level of self-rated risk of Covid-19. CONCLUSION: Our findings possibly contribute to the implementation of a pricing policy when the Covid-19 vaccine is introduced in Vietnam.