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. 2025 Sep 24.
doi: 10.1002/hec.70037. Online ahead of print.

Vaccination and Risk Aversion: Evidence From a Flu Vaccination Campaign

Clémentine Garrouste  1 , Arthur Juet  2 , Anne-Laure Samson  3
Affiliations

Vaccination and Risk Aversion: Evidence From a Flu Vaccination Campaign

Clémentine Garrouste et al. Health Econ. .

Abstract

We examine the causal effect of a French flu vaccination campaign on vaccination behavior. Individuals aged 65 and over receive an invitation letter with a voucher for a free flu shot, while those who are not eligible have to cover the costs themselves. Using a Fuzzy Regression Discontinuity Design, we find that receiving the invitation letter with the voucher leads to a significant increase in the likelihood of getting vaccinated. This effect is driven by individuals who are risk-averse. As illustrated in our theoretical model, for them, the costs of influenza infection outweigh the costs of the vaccine's side effects.

Keywords: influenza; regression discontinuity design; risk aversion; vaccination campaign.

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