MEASURING THE IMPACT OF FOOD SAFETY REGULATION-AN OUTPUT DIRECTIONAL DISTANCE FUNCTION APPROACH

Bo-Hyun Cho and Neal Hooker

No 20016, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper provides a novel methodology to measure the impact of food safety regulation. An output directional distance function approach is applied to estimate the opportunity cost of food safety regulation. Such a measure should be included as part of the overall cost for a more precise benefit-cost analysis of food safety regulation. Using US Census and food safety recall data, the value of potential output loss due to food safety regulation is suggested $2.5 billion.

Keywords: Food; Consumption/Nutrition/Food; Safety (search for similar items in EconPapers)
Pages: 25
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20016

DOI: 10.22004/ag.econ.20016

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