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Valuing the Health Benefits of a Novel Functional Food

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  • Stavroula Malla
  • Jill E. Hobbs
  • Orsolya Perger

Abstract

"Awareness of the link between diet and health has led to an interest from consumers, the food industry, and policymakers in the health properties of foods. Food industry innovations are emerging that enhance the health attributes of foods. Recent scientific evidence has linked the consumption of foods high in trans fatty acids with elevated cholesterol levels and a higher incidence of coronary heart disease. Foods that reduce the risk of chronic diseases have potential social welfare benefits. This article values the potential health benefits of a healthy food: a trans fat-free canola oil. Using a range of assumptions about the extent to which a trans fat-free canola oil will substitute for existing oils, the paper shows how two alternative methods of computing reductions in the cost of illness reveal nontrivial benefits to society. Policy implications and suggestions for further research are discussed." Copyright 2007 Canadian Agricultural Economics Society.

Suggested Citation

  • Stavroula Malla & Jill E. Hobbs & Orsolya Perger, 2007. "Valuing the Health Benefits of a Novel Functional Food," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 55(1), pages 115-136, March.
  • Handle: RePEc:bla:canjag:v:55:y:2007:i:1:p:115-136
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    References listed on IDEAS

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    Cited by:

    1. Zhang, Sidi & Kerr, William A., 2009. "Revisiting Barriers to Trade: Do Foregone Health Benefits Matter?," Working Papers 51092, Canadian Agricultural Trade Policy Research Network.
    2. Steven S. Vickner, 2017. "Friend or PHO? On the Marginal Valuation of Reducing the Content of Trans Fat in Processed Foods," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 7(2), pages 1-2.
    3. Gyles, Collin & Carlberg, Jared G. & Jones, Peter J.H., 2010. "Potential Healthcare Savings From Plant Sterol Enriched Foods In Canada," 115th Joint EAAE/AAEA Seminar, September 15-17, 2010, Freising-Weihenstephan, Germany 116409, European Association of Agricultural Economists;Agricultural and Applied Economics Association.
    4. Henson, Spencer & Blandon, Jose & Cranfield, John, 2010. "Difficulty of healthy eating: A Rasch model approach," Social Science & Medicine, Elsevier, vol. 70(10), pages 1574-1580, May.
    5. Chase, Darren & Emunu, John Paul & Nilsson, Tomas K.H. & McCann-Hiltz, Diane & Peng, Yanning, 2009. "Canadian Consumers’ Purchasing Behavior of Omega-3 Products," Journal of Food Distribution Research, Food Distribution Research Society, vol. 40(2), July.
    6. Bechtold, Kai-Brit & Abdulai, Awudu, 2013. "Combining Likert scale attitudinal statements with choice experiments to analyze pref-erence heterogeneity for functional dairy products," 87th Annual Conference, April 8-10, 2013, Warwick University, Coventry, UK 158851, Agricultural Economics Society.

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