An Analysis of Government Interventions in Addressing Market Failures Caused by Non-Excludable and Non-Rivalrous Public Goods Based on COVID-19 Vaccination Cases

The non-excludable and non-rivalrous characteristics of public goods distinguish them from private goods. existence these two leads to the “free rider problem” variation problem, making market supply less than actual demand, thus causing failure. government should therefore intervene against this impact. At beginning 2020, global outbreak novel COVID-19 brought significant harm various countries, races, groups people. In second half several companies developed vaccines, which are able fundamentally block transmission virus. However, as vaccines have been reducing severity epidemic in certain regions, situation somewhat reflects non-excludability non-rivalry, before officially being listed vaccination programs, society may thought “vaccination would reduce risk transmission; thus, I can enjoy reduced everyone vaccinated without paying for it.” For reason, most countries purchasing through appropriations solve free-rider problem. It be said that face failure caused by goods, carry out timely intervention measures, including taxation appropriation, avoid negative impacts