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Updated Estimated Economic Welfare Impacts Of Porcine Epidemic Diarrhea Virus (Pedv)

Author

Listed:
  • Philip Paarlberg

    (Purdue University, Dept. of Agricultural Economics, W. Lafayette, IN)

Abstract

Estimates of pig loss from Porcine Epidemic Diarrhea Virus (PEDv) determine changes in economic welfare. Hog and pork prices rise, so aggregate returns to hog growers increase. For a 3% annual pig loss, growers gain $1.2 billion annually, while for a 6% annual pig loss, the gain is $2.3 billion. Losses to infected growers are smaller than gains to uninfected growers. Annual returns to hog slaughter fall by $481 to $929 million. Retail value-added falls by $1.1 to $2.2 billion. Annual consumer surplus also declines from $300 to $600 million. The estimated net annual decrease for U.S. economic welfare from PEDv summed across all effects ranges from $900 million to $1.8 billion.

Suggested Citation

  • Philip Paarlberg, 2014. "Updated Estimated Economic Welfare Impacts Of Porcine Epidemic Diarrhea Virus (Pedv)," Working Papers 14-4, Purdue University, College of Agriculture, Department of Agricultural Economics.
    • Handle: RePEc:pae:wpaper:14-4
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    File URL: http://purl.umn.edu/174517
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    Citations

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    Cited by:

    1. Yang, Shang-Ho & Burdine, Kenneth H. & Hu, Wu-Yueh, 2016. "An Alternative Approach to Estimate the Economic Loss of Porcine Epidemic Diarrhea (PED) via Data Envelopment Analysis: The Case in Taiwan," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235574, Agricultural and Applied Economics Association.
    2. Eric M Clark & Scott C Merrill & Luke Trinity & Gabriela Bucini & Nicholas Cheney & Ollin Langle-Chimal & Trisha Shrum & Christopher Koliba & Asim Zia & Julia M Smith, 2020. "Using experimental gaming simulations to elicit risk mitigation behavioral strategies for agricultural disease management," PLOS ONE, Public Library of Science, vol. 15(3), pages 1-18, March.

    More about this item

    Keywords

    Porcine Epidemic Diarrhea; PEDv; Economic Impacts;
    All these keywords.

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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