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Review of the economics of food safety and food standards
Project Code: D03002
Centre for Food Chain Research, Imperial College London
Fearne, A ; Garcia, M
The aim of this project was to provide a thorough review of the literature on the economics of food safety and standards in the UK. In particular, it reviewed the advantages and disadvantages of different policy instruments and discussed how costs and benefits of policy options can be estimated in practice. The project also summarised the literature on compliance with regulation, with a strong focus on the interactionof public and private regulation. Businesses and individuals have a self-incentive to appropriately handle, prepare and choose food products, but the literature is not conclusive about how strong this incentive is. In addition, private assurance schemes and retailer standards contribute further to reducing food-related risks. This interrelationship between public and private standards may have a significant impact on compliance behaviour and costs associated with public regulation.
The project has demonstrated that economic analysis can make a significant contribution by both developing and analysing policy options.
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