Work

Measuring Consumer Benefits of Food Safety Risk Reductions

Year: 1998

Type: article

Abstract: Microbial pathogens and pesticide residues in food pose a financial burden to society which can be reduced by incurring costs to reduce these food safety risks. We explore three valuation techniques that place a monetary value on food safety risk reductions, and we present a case study for each: a contingent valuation survey on pesticide residues, an experimental auction market for a chicken sandwich with reduced risk of Salmonella, and a cost-of-illness analysis for seven foodborne pathogens. Estimates from these techniques can be used in cost/benefit analyses for policies that reduce food safety risks.

Source: Journal of Agricultural and Applied Economics

DOI: 10.1017/s1074070800008063

Authors: Jean C. Buzby, John A. Fox, Richard C. Ready, Stephen R. Crutchfleld

Institutions: Economic Research Service, United States Department of Agriculture, Kansas State University

Language: English

Topic: Economic and Environmental Valuation

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Zero hunger

Open Access status: green

Funders: U.S. Department of Agriculture, Economic Research Service