Market Failure and Chemical Use

The objective of this paper is to develop a cost-benefit model that presents an analysis of the costs of implementing safe agrichemical practices, being the use of recommended protective equipment, and the benefits derived from these practices, being the reduced risk of consequent health problems. Initially, the cost-benefit analysis relies on surveys of the prevalence of short term acute cases of agrichemical poisoning among farmers and farm workers (inclusively termed farmers in the study), and epidemiological research on the elevated risks of cancer for farmers. The increased risks of health problems due to agrichemical exposure is then valued, using as a reference the literature on the willingness to pay for preventative action.