The value of vaccines.

Area of Science:

• Health Economics
• Public Health Policy
• Value Theory

Background:

• Optimizing vaccine spending requires a comprehensive understanding of the value of vaccination (VoV).
• Current VoV taxonomies are limited as they lack theoretical grounding.
• General theories can inform a more complete assessment of VoV.

Purpose of the Study:

• To develop a comprehensive taxonomy of the value of vaccination (VoV).
• To integrate subjective-value theory and welfarist theory to define VoV.
• To expand the scope of factors considered in VoV assessments.

Main Methods:

• Utilized subjective-value theory, positing value is based on individual wants.
• Applied welfarist theory, emphasizing government's role in promoting social welfare.
• Derived implications for VoV by combining these theoretical frameworks.

Main Results:

• Identified that any life aspect individuals value, and which can be affected by vaccine-preventable diseases, constitutes VoV.
• Developed a novel, more comprehensive taxonomy of VoV based on theoretical integration.
• Established a framework for a broader assessment of vaccination's societal benefits.

Conclusions:

• A comprehensive VoV taxonomy is essential for effective vaccine spending optimization.
• Integrating subjective-value and welfarist theories provides a robust foundation for VoV assessment.
• The proposed taxonomy offers a more complete understanding of vaccination's impact on individual and social well-being.