Article

Policy Evaluation and Benefit-Cost Analysis

Sean B. Cash

in The Oxford Handbook of the Economics of Food Consumption and Policy

Published in print September 2011 | ISBN: 9780199569441
Published online November 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199569441.013.0023

Series: Oxford Handbooks in Economics

Policy Evaluation and Benefit-Cost Analysis

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  • Public Economics
  • Agricultural, Environmental, and Natural Resource Economics

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Benefit-cost analysis (BCA) is an attempt to evaluate the wisdom of a proposal through quantified reasoning. This article explains the measurement tools available to the analyst for estimation of welfare effects of food policies. It gives a detailed description of the conceptual framework behind these measurements. The methods and practice of economic analysis of food safety policies are nicely described in and many of the legal, policy, and economic aspects of ensuring a safe food supply are discussed. The article summarizes briefly the underlying conceptual framework of BCA, and then discusses the regulatory practice of policy evaluation of food consumption policies. It briefly highlights two recent examples of BCAs conducted for US food policies and illustrates the potential for other food education interventions.

Keywords: benefit-cost analysis; measurement tools; food policies; economic analysis; food consumption

Article.  6780 words. 

Subjects: Economics ; Public Economics ; Agricultural, Environmental, and Natural Resource Economics

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