Cost-benefit Analysis and Getting the COVID19 Vaccine

Another Covid19 death hits home today — a close relative of mine in our province in Jaen, Nueva Ecija died from Covid19 this morning. We’re literally neighbors. I grew up knowing him and his family. I heard his wife is critical, too. I’m not sure with the kids. I pray they’re well.

I asked my mom if he was vaccinated. “Takot daw sa vaccine” (he’s afraid to get vaccinated). I wonder, though, had he got the vaccine — could he have survived, because according to health experts, the chances of getting worse when you contracted the virus is much lower when you are vaccinated.

In business, we have what we call “cost-benefit analysis”. It is a systematic process that businesses use to analyze which decisions to make and which to forgo.

I know I have friends who are still afraid of the vaccine for various reasons. And believe me, I still and always respect your decision. However, you do have to make some kind of cost-benefit analysis when deciding whether to get vaccinated or not. At this current situation when death is higher for the unvaccinated, when cases are still growing and chances of getting infected get higher by the day, which decision holds more weight?

I trust in the collective knowledge and expertise of our scientists. They are a blessing to us. If you’re undecided, I implore you to get the vaccine. I am in a strong opinion that the benefit of getting the jab is higher than the risk.