Expanding the Focus of Cost-Benefit Analysis for Food Safety: A Multi-Factorial Risk Prioritization Approach
Julie Caswell ()
No 42131, Working Paper Series from University of Massachusetts, Amherst, Department of Resource Economics
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.
Keywords: Agricultural and Food Policy; Food Consumption/Nutrition/Food Safety; Risk and Uncertainty (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr and nep-law
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
Working Paper: Expanding the Focus of Cost-Benefit Analysis for Food Safety: A Multi-Factorial Risk Prioritization Approach (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ags:umamwp:42131
Access Statistics for this paper
More papers in Working Paper Series from University of Massachusetts, Amherst, Department of Resource Economics Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().