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. 2022 May 24;98(321):214–229. doi: 10.1111/1475-4932.12667

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© 2022 The Authors. Economic Record published by John Wiley & Sons Australia, Ltd on behalf of Economic Society of Australia.

This is an open access article under the terms of the http://creativecommons.org/licenses/by/4.0/ License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

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Example of a Typical Markov Chain Model Used to Evaluate the Economic Effects of COVID‐19 Vaccination Programs. This is Typical of the Models Used by Padula et al. (2021) and Wang et al. (2021a, 2021b).