Measuring Consumer Benefits Of Food Safety Risk Reductions
AbstractMicrobial 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.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 30 (1998)
Issue (Month): 01 (July)
Contingent valuation; Cost of illness; Experimental auction market; Food safety; Risk reduction; Salmonella; Food Consumption/Nutrition/Food Safety;
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