Recently the FDA approved a vaccine for HPV manufactured by Merck Co. and will l

Question

Recently the FDA approved a vaccine for HPV manufactured by Merck Co. and will likely approve a similar vaccine made by GlaxoSmithKline this year. (HPV is a virus that causes most cases of cervical cancer in women.) Currently there is a huge debate in several states over requiring the vaccine for girls by age 12. a) What kind of market failure would support this regulation? (Hint: Think about public goods, externalities and google “herd immunity”). Explain. Be complete and use the language of economics. b) What kind of government failures could result? Explain. Be complete and use the language of economics.

Explanation / Answer

a) Market failure that would support this regulation-

Market failure in the case of no use of Condoms will cause HPV virus to generate and also after using also only 90% surety is given to the people that they will be highly protected from this virus.

High-risk HPVs cause several types of cancer.

Government failures could result are-

Even after recommendations by the ACIP, school vaccination requirements are decided mostly by state legislatures.

Some state legislatures have granted regulatory bodies such as the Health Department the power to require vaccines, but they still need the legislature to provide funding.

Some may have moral objections related to a vaccine mandate for a sexually transmitted disease. Financing is another concern: if states make the vaccine mandatory, they must also address funding issues, including for Medicaid and SCHIP coverage and youth who are uninsured, and whether to require coverage by insurance plans.

This has caused some to push for further discussion and debate about whether or not to require the vaccine.

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