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Gmo'S - The Trade-Offs Between Economic Benefits And Perceived Health Risks

Author

Listed:
  • Gheorghe ORZAN
  • Alexandra G. PRICOP
  • Madalina Maria MIHALACHE

Abstract

Food safety has become an important topic in the last decades as pesticides, chemical additives, hormones and other technological processed substances began to raise awareness among consumers, organizations and governments. At international scale it is being noticed an increasing concern that genetically modified food might have an unforeseen impact on human health. On the other hand, biotechnology has the ability to eliminate worldwide hunger and malnutrition in an efficient matter. Indirect costs that are associated with the production and adoption of genetically modified food as well as the potential to protect and conserve the environment need to be taken into account in the cost, benefit and perceived risk analysis. This paper describes the trade-offs between possible risks associated with genetically modified organisms and the economic benefits.

Suggested Citation

  • Gheorghe ORZAN & Alexandra G. PRICOP & Madalina Maria MIHALACHE, 2018. "Gmo'S - The Trade-Offs Between Economic Benefits And Perceived Health Risks," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(20), pages 1-5.
  • Handle: RePEc:alu:journl:v:1:y:2018:i:20:p:5
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    Keywords

    genetically modified food; economic benefits; health risks; environment;

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • P46 - Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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