Information asymmetry and the role of traceability systems
The role of food traceability systems in resolving information asymmetry is explored. Three functions of traceability systems are identified: ex post reactive systems that allow the traceback of affected products in the event of a contamination problem so as to minimize social costs, ex post systems that facilitate the allocation of liability, and information systems that provide ex ante quality verification. A taxonomy of traceability systems illustrates the multidimensional nature of the information problems related to food safety and food quality. A model of ex ante quality verification and ex post traceability systems is used to demonstrate the different functions and incentives of a traceability system. Finally, examples of private sector and regulatory traceability initiatives are discussed within the context of the ex post and ex ante models developed in the paper. [EconLit citations: Q130; Q180; L150.] © 2004 Wiley Periodicals, Inc. Agribusiness 20: 397-415, 2004.
Volume (Year): 20 (2004)
Issue (Month): 4 ()
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- McCluskey, Jill J., 2000.
"A Game Theoretic Approach To Organic Foods: An Analysis Of Asymmetric Information And Policy,"
Agricultural and Resource Economics Review,
Northeastern Agricultural and Resource Economics Association, vol. 29(1), April.
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- Hobbs, Jill E., 2003. "Traceability in Meat Supply Chains," CAFRI: Current Agriculture, Food and Resource Issues, Canadian Agricultural Economics Society, issue 04.
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