Setting Fair Prices for COVID-19 Vaccines: A Math-Based Approach

You might think setting the price for COVID-19 vaccines is simple. But it's not. The World Health Organization (WHO) wants these vaccines to be like a global public good – available and affordable to everyone. That's a tall order, especially with two big players, Pfizer and Moderna, in the U. S. market. Imagine you're playing a game, but this time, it's about vaccines. Mathematicians use something called game theory to figure out the best prices. They found that even with high production and distribution costs, the government can negotiate prices that are low for the public sector. This means more people can get vaccinated.The interesting part? These prices are similar to what we see in the news. It's like the math is telling us what's fair. But fairness isn't just about the price. It's about making sure everyone gets vaccinated and the companies make some profit. It's a balancing act. So, how do we make sure everyone's happy? That's the tricky part. We need to ensure the vaccine is affordable, but also profitable for the companies. After all, we want them to keep making vaccines. It's like a puzzle, and the solution might be in the math.