Advance Market Commitments: Insights from Theory and Experience

22 Pages Posted: 24 Feb 2020

See all articles by Michael Kremer

Michael Kremer

Harvard University - Department of Economics; Brookings Institution; National Bureau of Economic Research (NBER); Center for Global Development; Harvard University - Harvard Kennedy School (HKS)

Jonathan Levin

Stanford Graduate School of Business; Stanford University - Department of Economics; National Bureau of Economic Research (NBER)

Christopher M. Snyder

Dartmouth College - Department of Economics; National Bureau of Economic Research

Date Written: February 2020

Abstract

Ten years ago, donors committed $1.5 billion to a pilot Advance Market Commitment (AMC) to help purchase pneumococcal vaccine for low-income countries. The AMC aimed to encourage the development of such vaccines, ensure distribution to children in low-income countries, and pilot the AMC mechanism for possible future use. Three vaccines have been developed and more than 150 million children immunized, saving an estimated 700,000 lives. This paper reviews the economic logic behind AMCs, the experience with the pilot, and key issues for future AMCs.

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Suggested Citation

Kremer, Michael R. and Levin, Jonathan D. and Snyder, Christopher M., Advance Market Commitments: Insights from Theory and Experience (February 2020). NBER Working Paper No. w26775, Available at SSRN: https://ssrn.com/abstract=3543298

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