Julie A. Caswell () (Department of Resource Economics, University of Massachusetts Amherst)
Abstract
A pressing need in the area of food safety is a tool for making overall, macro judgments about which risks should be given priority for management. Governments often seek to base this prioritization on public health impacts only to find that other considerations also influence the prioritization process. A multi-factorial approach formally recognizes that public health, market-level impacts, consumer risk preferences and acceptance, and the social sensitivity of particular risks all play a role in prioritization. It also provides decision makers with a variety of information outputs that allow risk prioritization to be considered along different dimensions. Macro-level prioritization of risks based on multiple factors is an important expanded use of cost-benefit analysis to manage risk.
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Publisher Info
Paper provided by University of Massachusetts Amherst, Department of Resource Economics in its series Working Papers with number
2008-8.
Find related papers by JEL classification: I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy K32 - Law and Economics - - Other Substantive Areas of Law - - - Environmental, Health, and Safety Law H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
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