European vaccine-rollout policy, unraveled markets, and moral externalities

Kovač, Mitja (author), Elkanawati, Amira (author), Gjikolli, Vita (author), Woitalla, Jessica (author)

This paper seeks to address the role of European public policy in addressing the problem of Covid-19 or any other vaccine-rollout policy. Currently in Europe, instead of market-based allocation a centralized command-based approach has been implemented to address the essential questions of production and distribution of vaccines throughout the EU. This is centralized, command-based decision-making on the allocation of vaccines which is leading to political and sociological tensions among EU Member States. Paper argues that in order to mitigate these shortcomings European public policy could employ a more nuanced approach. While employing law and economics tools this paper addresses the questions on how European societies should allocate vaccine and, more importantly, who should make this allocation deci- sions. Moreover, identified moral negative externalities, status quo and omission biases, planning fallacy, risk aversion, administrative rigidity, notorious type-I-type-II error fallacy and related unraveled markets phenomena might result in vaccine-rollout failures.

• Language: English
• Keywords: vaccination, commercial law, Covid-19 vaccination-rollout, moral negative externality, moral transaction costs, risk aversion, coordination, unraveled markets
• Work type: Article
• Typology: 1.01 - Original Scientific Article
• Organization: EF - School of Economics and Business
• Publication status: Published
• Publication version: Version of Record
• Year: 2023
• Number of pages: Str. 9-26
• Numbering: No. 17
• PID: 20.500.12556/RUL-154423
• UDC: 339.1
• ISSN on article: 1588-6735
• DOI: 10.5755/j01.eis.1.17.32091
• COBISS.SI-ID: 164730627
• Publication date in RUL: 14.02.2024

Record is a part of a journal

• Title: European integration studies
• Shortened title: Eur. integr. stud.
• Publisher: Kaunas University of Technology
• ISSN: 1822-8402
• COBISS.SI-ID: 521998105

Licences

• License: CC BY 4.0, Creative Commons Attribution 4.0 International
• Link: http://creativecommons.org/licenses/by/4.0/
• Description: This is the standard Creative Commons license that gives others maximum freedom to do what they want with the work as long as they credit the author.

Secondary language

• Language: Slovenian
• Keywords: pandemije, cepljenje, trgovinsko pravo