MEASURING CONSUMER BENEFITS OF FOOD SAFETY RISK REDUCTIONS

Abstract

Microbial pathogens and pesticide residues in food pose a financial burden to society which can be reduced by incurring costs to reduce these food safety risks. We explore three valuation techniques that place a monetary value on food safety risk reductions, and we present a case study for each: a contingent valuation survey on pesticide residues, an experimental auction market for a chicken sandwich with reduced risk of Salmonella, and a cost-of-illness analysis for seven foodborne pathogens. Estimates from these techniques can be used in cost/benefit analyses for policies that reduce food safety risks.Contingent valuation, Cost of illness, Experimental auction market, Food safety, Risk reduction, Salmonella, Food Consumption/Nutrition/Food Safety,