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The economics of food safety

Ritson, Christopher and Mai, Li-Wei (1998) The economics of food safety. Nutrition & Food Science, 98 (5). pp. 253-259. ISSN 0034-6659

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Official URL: http://dx.doi.org/10.1108/00346659810224163

Abstract

Discusses the financial implications of maintaining acceptable levels of food safety. The case of BSE is used as an example - loss of export market, fall in domestic sales, changes in consumption, large expenditure, cost of practice changes in rearing and slaughtering animals. There is a trade-off between safety and costs. How much safety can be expected? There must be an optimum level of safety. There are few ways in which a market economy can “fail” in providing the optimum - asymmetry in knowledge of risks; aspects of food safety which are public goods; social costs of food safety and the divergence between objective scientific evidence and consumer perception.

Item Type:Article
Research Community:University of Westminster > Westminster Business School
ID Code:11507
Deposited On:14 Nov 2012 15:35
Last Modified:14 Nov 2012 15:35

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