While vaccines for diseases borne by the “poor” are not developed because the market is small and the customers have limited purchasing power, these are not market failures. However, there are market-failure-based reasons for why vaccines are not developed for these diseases. Enumerate four of them and explain.

a. Discuss the three possible solutions to solve this problem.

b. Illustrate via a stylized graph the idea behind the epidemiological transition.

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Market Failures in Developing Vaccines for Diseases of the Poor While its true that the limited market size and purchasing power of populations affected by poverty can deter pharmaceutical companies f... View the full answer