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Exploratory Study of Consumers` Willingness to Pay for Food Risk Reductions - FS1821

This project is an exploratory investigation into the applicability of classical economic theory to the management of food risks. By combining expertise in economics and risk assessment, it is proposed to determine the viability of consumers' willingness-to-pay as an aid in the formulation of food safety policy. The project entails a summary of the present status of relevant economic instruments, and of the perception of food risks, particularly WTP studies; a small but detailed pilot study of consumers' WTP in respect of food risks; and the drawing of conclusions and recommendations.
Ultimately, to place monetary values on improvements in foo d safety which can be compared with the costs of those impr ovements, in order to promote rational decision making whic h takes due account of public preferences.
Time-Scale and Cost
From: 1994

To: 1995

Cost: £60,031
Contractor / Funded Organisations
East Anglia University, Environmental Sc