Related Experiment Video
Updated: Nov 8, 2025

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Using Contingent Valuation Method to Estimate Adults' Willingness to Pay for a Future Coronavirus 2019 Vaccination
Nam Xuan Vo1, Tram Thi Huyen Nguyen2, Pol Van Nguyen3
1Faculty of Pharmacy, Ton Duc Thang University, Ho Chi Minh City, Vietnam.
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.
Related Concept Videos
Vaccinations
Contingency Table
Estimating Population Mean with Unknown Standard Deviation
William S. Gosset (1876–1937) of the...
Relative Risk
Confidence Interval for Estimating Population Mean
A confidence interval for the mean is a range of values that provides an estimate of the population mean. As the...
Estimating Population Mean with Known Standard Deviation
The confidence interval estimate will have the form as follows:
(point estimate - error bound, point estimate +...

