Abstract
Estimating economic impacts of food safety scares, such as the concern surrounding beef supplies when bovine spongiform encephalopathy (BSE) is found in domestic cattle, is important to food industry analysts, policymakers and scientists. Accurate estimation is particularly important to stakeholders who weigh the relative benefits and costs of information systems designed for quality assurance, source verification and trace-back capability. Yet, determining potential implications on marketing channels often involves quantifying decreased demand for affected foods and the increased demand for substitutes directly related to the shock, an issue that requires careful methodological approaches and data interpretation. Food safety demand shocks may be difficult to extract with primary data – after all, the event is unexpected making it costly and difficult to gauge consumers’ responses in supermarket aisles. More often than not,
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