Sifiso Skenjana,Chief Economist And Thought Leadership Executive At IQ Business
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When assessing the value of vaccines, scholars have often argued for a cost effectiveness analysis (CEA) as opposed to a cost benefit analysis. The latter broadly looks at costs and benefits as monetary units; while the former broadly explores non-monetary units of benefits like health outcomes, quality of adjusted life, death averted and other measures of personal well-being. In the CEA analysis for the individual, emphasis would need to go into understanding the costs of acquisition, process of acquisition, understanding the potential adverse effects of taking the vaccine and also the frequency with which the vaccine would need to be taken
