If the vaccine is found to be 80% effective against Delta, does that mean that a population that is 80% vaxxed is effectively only 64% immune? Or does it not work like that?
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I think that this is what the math says if you add partially-effective vaccines to the SIR models that give us naive herd immunity thresholds. In practice, the relevant factor is not "80% against infection" but whatever the reduction is in transmission, which IIRC we don't know.