Stated choice analysis of preferences for COVID-19 vaccines using the Choquet integral.

ABSTRACT

We investigate preferences for COVID-19 vaccines using data from a stated choice survey conducted in the US in March 2021. To analyse the data, we embed the Choquet integral, a flexible aggregation operator for capturing attribute interactions under monotonicity constraints, into a mixed logit model. We find that effectiveness is the most important vaccine attribute, followed by risk of severe side effects and protection period. The attribute interactions reveal that non-pecuniary vaccine attributes are synergistic. Out-of-pocket costs are independent of effectiveness, incubation period, and mild side effects but exhibit moderate synergistic interactions with other attributes. Vaccine adoption is significantly more likely among individuals who identify as male, have obtained a bachelor's degree or a higher level of education, have a high household income, support the democratic party, had COVID-19, got vaccinated against the flu in winter 2020/21, and have an underlying health condition.