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Traceability, Moral Hazard, and Food Safety

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  • Starbird, S. Andrew
  • Amanor-Boadu, Vincent
  • Roberts, Tanya

Abstract

Errors in traceability can significantly impact the moral hazard associated with producing safe food. The effect of moral hazard depends on the proportion of unsafe food costs that can be allocated to the responsible producer, which depends on the efficiency of the traceability system. In this paper, we develop a model that identifies the minimum level of traceability needed to mitigate moral hazard and motivate suppliers to produce safe food. Regulators and consumer can use the results of this research to design regulations and contracts that mitigate moral hazard and motivate producers to deliver safe food.

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File URL: http://purl.umn.edu/43840
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Bibliographic Info

Paper provided by European Association of Agricultural Economists in its series 2008 International Congress, August 26-29, 2008, Ghent, Belgium with number 43840.

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Date of creation: 2008
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Handle: RePEc:ags:eaae08:43840

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Related research

Keywords: Food safety; traceability; moral hazard; Food Consumption/Nutrition/Food Safety;

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  1. Macho-Stadler, Ines & Perez-Castrillo, J. David, 2001. "An Introduction to the Economics of Information: Incentives and Contracts," OUP Catalogue, Oxford University Press, Oxford University Press, edition 2, number 9780199243273, October.
  2. Grossman, Richard S, 1992. "Deposit Insurance, Regulation, and Moral Hazard in the Thrift Industry: Evidence from the 1930's," American Economic Review, American Economic Association, vol. 82(4), pages 800-821, September.
  3. Frenzen, Paul D. & Buzby, Jean C. & Rasco, Barbara, 2001. "Product Liability And Microbial Foodborne Illness," Agricultural Economics Reports, United States Department of Agriculture, Economic Research Service 34059, United States Department of Agriculture, Economic Research Service.
  4. Neil Doherty & Kent Smetters, 2002. "Moral Hazard in Reinsurance Markets," NBER Working Papers 9050, National Bureau of Economic Research, Inc.
  5. Golan, Elise H. & Krissoff, Barry & Kuchler, Fred & Calvin, Linda & Nelson, Kenneth E. & Price, Gregory K., 2004. "Traceability In The U.S. Food Supply: Economic Theory And Industry Studies," Agricultural Economics Reports, United States Department of Agriculture, Economic Research Service 33939, United States Department of Agriculture, Economic Research Service.
  6. Jill E. Hobbs, 2004. "Information asymmetry and the role of traceability systems," Agribusiness, John Wiley & Sons, Ltd., vol. 20(4), pages 397-415.
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Cited by:
  1. Ng, Desmond W. & Salin, Victoria, 2012. "An Institutional Approach to the Examination of Food Safety," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), International Food and Agribusiness Management Association (IAMA), vol. 15(2).
  2. Ng, Desmond W. & Salin, Victoria, 2012. "An Institutional Approach to the Examination of Food Safety," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), International Food and Agribusiness Management Association (IAMA), vol. 15(2).

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