Utility Question:

Didier Queloz Age 55, likelihood of death from Covid-19 = 0.8%

Suppose this person values the rest of their life by $1,000,000 and there is a 10% chance

that they will be infected with Covid-19. How much would they be willing to pay to avoid a

Covid-19 infection (e.g. by getting a 100% effective vaccine)? (1 mark)

Suppose now, since most American's are vaccinated, this person's likelihood of getting

infected with Covid-19 went down to 1%. How does this affect their willingness to get a Covid-19 vaccine? (1 mark)