This study develops theoretical and econometric cost function models for the meat industry to test the hypothesis of safety exogeneity, i.e., that product safety does not affect productive efficiency. Using plant-level data from the Census of Manufactures, this hypothesis is rejected. Estimates...

This chapter addresses the analysis of markets for food products that are differentiated by safety characteristics. The first part of the paper surveys the broad array of issues that are involved in food safety and the regulations that have been devised to address them. The next sections of the...

Economics researchers often assume that random variables are drawn from distributions that are members of scale or location-scale families of distributions. This article generalizes earlier results in the literature on the bias in least squares estimates of multiplicative error models, and uses...

Tradeoff Analysis (TOA) is an approach to positive analysis that combines foresight analysis and simulation modeling tools from the relevant disciplines, including economics, in a participatory process designed to formulate and evaluate forward-looking, strategic decisions under high levels of...

This timely book focuses on the liberalization of agricultural policy and questions whether it is compatible with the goal of achieving economic and environmental sustainability in the European Union. It presents an invaluable contribution to the growing literature on the sustainability and...