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| Lewis, Andrew; Nganje, William E.; Mattson, Jeremy W.; Miljkovic, Dragan; Wilson, William W.. |
| This study provides a framework to value investment strategies to mitigate possible agro-terrorism occurrences in the food supply chain and to determine where these investments would reduce the most risk. This framework is applied to two food sectors that could be at risk: milk and green onions. Stochastic optimization is used to determine the costs and risk premiums of alternative tracking strategies. The real options method along with a portfolio of options, also referred to as the "tomato garden" framework, is used to determine where and when alternative intervention strategies should be implemented to reduce the most risk. Finally, policy implications are derived on the cost-risk tradeoffs, probability of attacks, and containment efforts if there... |
| Tipo: Report |
Palavras-chave: Agro-terrorism; Stochastic optimization; Real options; Game theory; Milk; Green onions; Food Consumption/Nutrition/Food Safety. |
| Ano: 2007 |
URL: http://purl.umn.edu/7630 |
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| Hennessy, David A.. |
| Concerns about biosecurity in the food system raise a variety of issues about how the system is presently organized, why it might be vulnerable, what one could reasonably do to better secure it, and the costs of doing so. After presenting some facts about US agriculture and food, this paper considers three economic aspects of the general problem. One is the global problem, or the way biosecurity measures can affect how countries relate to each other and the global consequences that result. Another is how to best manage the immediate aftermath of a realized threat in order to minimize damage. The third is how to seek to prevent realization of the threat. Some policy alternatives are also presented. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agro-terrorism; Animal disease; Biosecurity; Epidemic; Food system policy; Food Consumption/Nutrition/Food Safety. |
| Ano: 2007 |
URL: http://purl.umn.edu/9371 |
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