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Unpublished Paper
Expanding the Focus of Cost-Benefit Analysis for Food Safety: A Multi-Factorial Risk Prioritization Approach
Working Paper 2008-8. Department of Resource Economics, University of Massachusetts Amherst (2008)
  • Julie Caswell, University of Massachusetts - Amherst
Abstract

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
  • cost-benefit analysis,
  • food safety,
  • risk prioritization
Disciplines
Publication Date
2008
Citation Information
Julie Caswell. "Expanding the Focus of Cost-Benefit Analysis for Food Safety: A Multi-Factorial Risk Prioritization Approach" Working Paper 2008-8. Department of Resource Economics, University of Massachusetts Amherst (2008)
Available at: http://works.bepress.com/julie_caswell/85/