Market Design to Accelerate Covid-19 Vaccine Supply

Market Design to Accelerate Covid-19 Vaccine Supply

Coauthors: Juan Camilo Castillo, Amrita Ahuja, Susan Athey, Arthur Baker, Tasneem Chipty, Rachel Glennerster, Scott Duke Kominers, Michael Kremer, Greg Larson, Jean Lee, Canice Prendergast, Christopher M Snyder, Alex Tabarrok, Brandon Joel Tan, and Witold Więcek
Science, (2021): 68, no.2, 1107-1109. [PDF]

Policy Writing

Bigger Is Better When It Comes to Vaccine Production

Coauthors: Christopher Snyder
Wall Street Journal, March 2021.
[PDF] [All Related Material]

Press Coverage

We Can Sustainably End the Pandemic with 7.2 Billion Vaccine Courses a Year: Chicago Booth’s Eric Budish

The Economic Times, Srijana Mitra Das, ET Bureau, Jun 19, 2021 [PDF]

How Can More Covid-19 Vaccines be Made Available?

The Economist, May 15, 2021 [PDF]

The Big Pharma CEO Who’s Helping to Put an End to COVID-19

Newsweek, Lee Habeeb, Apr 26, 2021 [PDF]

Panel Discussion

Management Conference ’21: Perspectives on COVID-19

Chicago Booth Management Conference Panel, June 2021.

Related Works

Distributing a Billion Vaccines: COVAX Successes, Challenges, and Opportunities

Hannah Kettler, Scott Duke Kominers, Erik Osland, Canice Prendergast, and Andrew A Torkelson
Oxford Review of Economic Policy, (2022): 38, no. 4, 941-974. [PDF]

By January 2022, the COVAX international vaccine collaboration had allocated over a billion vaccines to over 140 countries. We describe and review the allocation process chosen, which reflected both an objective of equitably distributing vaccines across the world and the need to fund that mission. We show how vaccine supply limitations and constraints on some countries’ absorptive capacity have affected overall allocative outcomes. We also discuss market design approaches that were considered but not implemented, including the use of an exchange mechanism to better match countries’ vaccine allocations to their preferences, as well as a vaccine brokerage under which countries could sell excess vaccines to countries with ongoing need. Our analysis addresses some criticisms of COVAX, and offers suggestions for agencies organizing global vaccine cooperation for future pandemics.


Market Design for Covid-19 vaccine supply

Booth Alumni Event, Hosted by the Chicago Booth Alumni Club of Singapore, August 18, 2021.