Question 4Suppose you have been hired by the government as an econometrician and have beentasked with predicting whether or not individuals will choose to get inoculated with a newvaccine developed to fight the next global pandemic. You have individual-level data fromthe previous pandemic on the following variables:●●Whether or not the individual chose to get vaccinatedAge, gender, marital status, religion, education level and household income ofeach individual. A dummy for whether or not the individual was in the labor forceOccupation, sector/industry and wage/earnings of each individual●Develop an econometric model the government can use to predict whether or not anindividual will choose to get vaccinated in the next global pandemic. State anyassumptions you are relying on in constructing your model and justify the design of yourmodel in the context of the problem faced. Specify the model mathematically, explain howyou will estimate it (i.e. which estimation framework will you use and how the estimationprocedure works), how will results be interpreted, etc. Be as specific and as detailed aspossible and use mathematical notations/formulae wherever necessary. And remember,the model you develop should be worthy of a properly trained econometrician - you donot want your model to predict that the probability of any given individual's vaccination isgreater than one, for instance!

An econometric model is a mathematical and statistical portrayal utilized in economics to depict and…

Question 4 Suppose you have been hired by the government as an econometrician and have been tasked with predicting whether or not individuals will choose to get inoculated with a new vaccine developed to fight the next global pandemic. You have individual-level data from the previous pandemic on the following variables: . Whether or not the individual chose to get vaccinated • Age, gender, marital status, religion, education level and household income of each individual • A dummy for whether or not the individual was in the labor force Occupation, sector/industry and wage/earnings of each individual

Question 4 Suppose you have been hired by the government as an econometrician and have been tasked with predicting whether or not individuals will choose to get inoculated with a new vaccine developed to fight the next global pandemic. You have individual-level data from the previous pandemic on the following variables: . Whether or not the individual chose to get vaccinated • Age, gender, marital status, religion, education level and household income of each individual • A dummy for whether or not the individual was in the labor force Occupation, sector/industry and wage/earnings of each individual

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter4: Economic Evaluation In Health Care

Section: Chapter Questions

Problem 2QAP

See similar textbooks

Similar questions

The goal of health insurance is to O spread financial risk over a large group of people O equally distribute the probabifity of loss over a large number of people collect sufficient premiums to cover all possible losses O equalize the availability of medical care across population groups O redistribute income from the sick to the healthy
Jackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private payment. If she needed…
If surgeons really have the ability to increase thedemand for surgeries, which kinds of surgerieswill be most affected? Can you think of a way todetermine which surgeries are unnecessary? Provide several examples from your own readings orexperience.
Jackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private payment. If she needed…
What are some of the metrics economists use to measure health outcomes?
Why is it difficult to measure health outcomes?
Please no written by hand solution In 1972 the U.S. Food and Drug Administration (FDA) began requiring all aspirin manufacturers to package aspirin in bottles with child-resistant protective caps, to make it much harder for children to open the bottles and thus reduce the number of young children who died from overdosing on aspirin. (Children apparently thought the aspirin was candy.) Rather than decreasing, the number of young children who died from overdosing on aspirin actually increased. Use the Economic Way of Thinking to carefully and completely explain why requiring this safety device led to an increase in the number of children overdosing on aspirin.
What is the supportive explanation that shows lockdown is the best decision have been made compared to not lockdown due to Covid-19 pandemic? Is there any contigency plans for lockdown need to be placed?
What are the purpose of individual enterepreneur? What are the few advantage or merits of individual enterepreneur?
Briefly Explain the differences between Rapid Upper Limb Assessment and Rapid Entire Body Assessment.
How can extensive government intervention influence health economics
2 Examples of sources of data for market failure in health.