An evaluation of risk analysis as applied to agricultural biotechnology (with a case study of gmo labeling)

Governments have several policy instruments available for influencing the speed of adoption of agricultural biotechnology and the ultimate market share of products produced with its use. Differences between countries in rates of and conditions on regulatory approval of agricultural biotechnologies result from different approaches to the factors included in risk analysis andthe inclusion of different factors. Differences in labeling policy result from these same sources, as well as from different views of the consumer's right to know about how a product was produced. An economic evaluation of the use of risk analysis to regulate agricultural biotechnology and products derived from it focuses on the welfare effects of the policy chosen relative to those of alternative policies that could have been chosen. The full application of benefit|cost analysis in different countries may indicate that different policies best suit their varying situations. [EconLit Subject Codes: K2, F1, Q1] © 2000 John Wiley & Sons, Inc.