We provide evidence of consumption externalities for foods with genetically engineered ingredients. The probability of choosing bread made exclusively from genetically engineered wheat is significantly higher for individuals who perceive normal bread to contain higher levels of genetically...

Labels address a market failure—asymmetric information—through costly expenditures borne by consumers, firms, and taxpayers. In this review, we explore when mandatory and voluntary labeling policies may be socially optimal. Although the analysis ostensibly revolves around simple comparisons...

The US Department of Agriculture applies a cost-of-illness approach to value reductions in morbidity, which may understate the projected benefits from proposed food-safety improvements by ignoring costs such as pain, suffering and worry. We use a national survey with a hypothetical food-choice...

Vaccines against several common foodborne pathogens are being developed and could substantially alter the policy tools available to address foodborne illness. However, little analysis is available to suggest how social welfare would be affected by these new vaccines. To address this void, we use...

When products are differentiated and quality is highly subjective (e.g., fashion or art), novel (e.g., a new feature), or difficult to verify prior to purchase (e.g., credence attributes), consumers may turn to price as a signal of quality. Products containing genetically modified (GM)...

When products are differentiated and quality is highly subjective (e.g., fashion or art), novel (e.g., a new feature), or difficult to verify prior to purchase (e.g., credence attributes), consumers may turn to price as a signal of quality. Products containing genetically modified (GM)...

Vaccines against several common foodborne pathogens are being developed and could substantially alter the policy tools available to address foodborne illness. However, little analysis is available to suggest how social welfare would be affected by these new vaccines. To address this void, we use...

During the last two decades, product labeling has become an increasingly used policy tool, particularly with respect to the provision of health and environmental information. Theory holds that the flow of information among market participants plays a critical role in the efficient operation of...