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Expanding the Focus of Cost-Benefit Analysis for Food Safety: A Multi-Factorial Risk Prioritization Approach

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  • 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.

Suggested Citation

  • Julie A. Caswell, 2008. "Expanding the Focus of Cost-Benefit Analysis for Food Safety: A Multi-Factorial Risk Prioritization Approach," Working Papers 2008-8, University of Massachusetts Amherst, Department of Resource Economics.
    • Handle: RePEc:dre:wpaper:2008-8
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    File URL: http://courses.umass.edu/resec/workingpapers/documents/ResEcWorkingPaper2008-8.pdf
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    References listed on IDEAS

    as
    1. Krupnick, Alan & Taylor, Michael & Batz, Michael & Hoffmann, Sandra & Tick, Jody & Morris, Glenn & Sherman, Diane, 2004. "Identifying the Most Significant Microbiological Foodborne Hazards to Public Health: A New Risk Ranking Model," RFF Working Paper Series dp-frsc-dp-01, Resources for the Future.
    2. Juliana Martins Ruzante & Valerie J. Davidson & Julie Caswell & Aamir Fazil & John A. L. Cranfield & Spencer J. Henson & Sven M. Anders & Claudia Schmidt & Jeffrey M. Farber, 2010. "A Multifactorial Risk Prioritization Framework for Foodborne Pathogens," Risk Analysis, John Wiley & Sons, vol. 30(5), pages 724-742, May.
    3. Hoffmann, Sandra A. & Taylor, Michael R. & Morris, Joe & Krupnick, Alan J. & Batz, Michael B., 2004. "Identifying The Most Significant Microbiological Foodborne Risks To Public Health: A New Risk-Ranking Model," 2004 Annual meeting, August 1-4, Denver, CO 20291, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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    Cited by:

    1. Pitter, János G. & Jóźwiak, Ákos & Martos, Éva & Kaló, Zoltán & Vokó, Zoltán, 2015. "Next steps to evidence-based food safety risk analysis: opportunities for health technology assessment methodology implementation," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 117(3), pages 1-7, December.
    2. Ramo Barrena & Mercedes Sánchez, 2010. "Differences in Consumer Abstraction Levels as a Function of Risk Perception," Journal of Agricultural Economics, Wiley Blackwell, vol. 61(1), pages 34-59, February.

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    More about this item

    Keywords

    cost-benefit analysis; food safety; risk prioritization;
    All these keywords.

    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; Animal Welfare Policy
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government

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