Abstract
Abstract Some people did not receive the COVID-19 vaccine, even though it was offered at no cost. Monetary incentives may encourage people to vaccinate, although existing studies have provided different findings regarding this effect. Therefore, in this study, we investigated how monetary incentives could vary based on individual characteristics. Using panel data from online surveys, we found that (1) subsidies reduced vaccine intention but increased it after controlling for heterogeneity, (2) the stronger the social image against vaccination, the lower the monetary incentive, and (3) unvaccinated people would persist in their intent to get vaccinated only if a large subsidy is provided.
Published Version
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