Stephen R. Crutchfield

TL;DR: In this article, the optimal trading ratio depends on the relative costs of enforcing point versus nonpoint reductions and on the uncertainty associated with nonpoint loadings, and the uncertainty does not imply a lower bound for the optimal trade ratio.

TL;DR: This paper explored three valuation techniques that place a monetary value on food safety risk reductions, and presented a case study for each: a contingent valuation survey on pesticide residues, an experimental auction market for a chicken sandwich with reduced risk of Salmonella, and a cost-ofillness analysis for seven foodborne pathogens.

TL;DR: The benefits of the new regulations, which are the medical costs and productivity losses that are prevented when foodborne illnesses are averted, will likely exceed the costs, which include spending by firms on sanitation, temperature control, planning and training, and testing as discussed by the authors.

TL;DR: A review of the important events in food safety of the last decade and looks ahead at new efforts to reduce microbial contamination of foods is given in this paper, with a focus on the recent outbreaks of foodborne diseases.

TL;DR: The use of benefit-cost analysis has long been part of the economist's toolkit as discussed by the authors, which has been used to provide guidance for decision makers about the optimal level of public investment in public goods and services, and the treatment of temporal effects through discounting of benefit and cost estimates to present values.