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The economics of food safety
Project Code: D03001
SAC Animal Health Group
The aim of this project was to provide an overview of the economic rationale for government intervention in the area of food safety and standards. The most beneficial option can be identified if the costs and benefits of each policy option can be calculated,but one major challenge is the estimation of benefits that consumers attach to different policies aimed at reducing food-borne illness. Therefore the project reviewed the methods that have been employed for such valuations and sumarised the results of a large number of valuation studies in the are of food safety and standards. Most of these have been conducted in the US and are therefore not applicable in the UK. The final topic that was reviewed was benefits transfer. Benefit estimations have a long history in transport and safety policy, and it is useful yo ask therefore whether values that have been estimated in these contexts for reductions, for example, in fatal risks, can be applied in a food safety context. The report discussed the uncertainties involved in such transfers.
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