Economic Research in Food Safety—Putting the Puzzle Together: Discussion

Abstract

Food safety research is a new field of endeavor for most of us. The three papers focusing on this topic (Buzby et al.; Jensen, Unnevehr, and G6mez; and Golan, Ralston, and Frenzen) merit our attention, as each adds something unique to our research efforts in this important area. While it is difficult to identify specific common threads, I think there is one aspect that is universal: information is largely lacking for food safety research. There are some valid reasons for this paucity of data, and I think it is critical that we attempt to develop a better understanding of this issue, and perhaps even consider new institutional designs that may resolve the data problem. I will discuss this further in my closing remarks. While these papers all raise new issues and demonstrate progress in food safety research, it is also clear that we have a long way to go. To my knowledge, few studies examine the cost structure of various technologies in such detail as provided by Jensen, Unnevehr, and G6mez. More work of this nature is critical to the industry and to regulators who are trying to understand the cost structure of new technologies. The other two papers demonstrate a stark difference in methods for valuing food safety. While both may be viewed as gallant attempts, neither can be viewed as the final word. Buzby et al. explore three valuation techniques that place a monetary value on risk reductions for food safety. Golan, Ralston, and Frenzen take a totally different approach at valuing food safety by examining economic activity beyond the direct and immediate im-