Analyzing COVID-19 Vaccine Hesitancy in the United States and Possible Mitigations Through the Lens of Behavioral Economics
DOI:
https://doi.org/10.47611/jsrhs.v11i4.3687Keywords:
COVID-19, Vaccine Hesitancy, United States, Behavioral EconomicsAbstract
During the current pandemic, vaccine hesitation is rapidly spreading through social media controversies. Despite the reassurance of medical professionals, heuristics from behavioral economics impose irrational thinking that leads to false interpretations of the news. This research paper analyzes the effect heuristics have on COVID-19 vaccination rates in the United States through a series of experiments and data analysis. Specifically, I will define confirmation bias, risk perception, availability bias, and status quo bias, and thoroughly discuss their relation to decision making. This paper also strives to explore framing and loss aversion among different age groups and provide refined, age-specific policies that the government can incorporate to increase vaccinations in America.
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