Market Incentives for Safe Foods: An Examination of Shareholder Losses from Meat and Poultry Recalls

Thomsen, Michael R.; McKenzie, Andrew M.

doi:10.1111/0002-9092.00175

Cited by 173 publications

(102 citation statements)

References 14 publications

(2 reference statements)

Supporting

Mentioning

101

Contrasting

Order By: Relevance

“…Although listeriosis is a relatively rare disease, mortality rates associated with outbreaks are high (29). Apart from the risk to human health, food product recalls due to Listeria contamination present an enormous financial burden, estimated to cost between $1.2 and $2.5 billion per year in the United States (30). Notably, in 2003 the Food Safety and Inspection Services (FSIS) published a ruling requiring manufacturers of ready-to-eat foods to provide additional post processing control measures to kill Listeria or prevent its growth, placing increased pressure on food manufacturers with respect to food safety.…”

Section: Discussionmentioning

confidence: 99%

Efficacies of Nisin A and Nisin V Semipurified Preparations Alone and in Combination with Plant Essential Oils for Controlling Listeria monocytogenes

Field

Daly

O’Connor

et al. 2015

Appl Environ Microbiol

View full text Add to dashboard Cite

The food-borne pathogenic bacterium Listeria is known for relatively low morbidity and high mortality rates, reaching up to 25 to 30%. Listeria is a hardy organism, and its control in foods represents a significant challenge. Many naturally occurring compounds, including the bacteriocin nisin and a number of plant essential oils, have been widely studied and are reported to be effective as antimicrobial agents against spoilage and pathogenic microorganisms. The aim of this study was to investigate the ability of semipurified preparations (SPP) containing either nisin A or an enhanced bioengineered derivative, nisin V, alone and in combination with low concentrations of the essential oils thymol, carvacrol, and trans-cinnamaldehyde, to control Listeria monocytogenes in both laboratory media and model food systems. Combinations of nisin V-containing SPP (25 g/ml) with thymol (0.02%), carvacrol (0.02%), or cinnamaldehyde (0.02%) produced a significantly longer lag phase than any of the essential oil-nisin A combinations. In addition, the log reduction in cell counts achieved by the nisin V-carvacrol or nisin V-cinnamaldehyde combinations was twice that of the equivalent nisin A-essential oil treatment. Significantly, this enhanced activity was validated in model food systems against L. monocytogenes strains of food origin. We conclude that the fermentate form of nisin V in combination with carvacrol and cinnamaldehyde offers significant advantages as a novel, natural, and effective means to enhance food safety by inhibiting food-borne pathogens such as L. monocytogenes. The growing consumer demand for food products that are minimally processed and free of chemical preservatives presents a difficult challenge for food processors. Consequently, there has been a focus on the application of naturally produced antimicrobial compounds as a more acceptable means to control the growth of undesirable microorganisms in food (1, 2). Bacteriocins (ribosomally produced, small, heat-stable peptides that are active against other bacteria) derived from organisms generally regarded as safe provide one potential solution. However, only two bacteriocins have been made commercially available to any extent. These are nisin, produced by Lactococcus lactis, and pediocin PA-1, produced by Pediococcus acidilactici (3, 4). Of these, nisin is used in a wide variety of dairy and nondairy products, including cream and cheese products, soups, liquid egg, mayonnaises, salad dressings, tomato products, and beer (5). Nisin A exhibits antibacterial activity against a wide range of Gram-positive bacteria, including food-borne pathogens such as staphylococci, bacilli, clostridia, and Listeria (6, 7). Indeed, the success of nisin A from discovery (8) through to regulatory approval and finally to commercial application has spurred researchers to exploit its geneencoded nature and to attempt to "bioengineer" variants with altered biological, chemical, and physical properties. Over the last decade, several studies have described the discovery of new nisi...

show abstract

Section: Discussionmentioning

confidence: 99%

Efficacies of Nisin A and Nisin V Semipurified Preparations Alone and in Combination with Plant Essential Oils for Controlling Listeria monocytogenes

Field

Daly

O’Connor

et al. 2015

Appl Environ Microbiol

View full text Add to dashboard Cite

show abstract

“…From a study on recall events in the automobile and pharmaceutical industry, it was concluded that the indirect costs are likely to be far greater than the direct costs (Jarrell & Peltzman, 1985). Therefore, food managers are willing to spend resources to provide a level of safety sufficient not only to protect consumers, but also to avoid costs associated with liability claims and the consequences of negative publicity and lost market share (Thomsen & McKenzie, 2001).…”

Section: Discussionmentioning

confidence: 99%

Distribution of direct recall costs along the milk chain

2009

View full text Add to dashboard Cite

The relation between time and the direct recall costs of one batch of milk was investigated in this study. We developed a Monte Carlo simulation model of a farm-to-consumer supply chain associated with one batch of milk of 150,000 kilograms. The direct recall costs of recalling a batch are less than €100,000 in the first 16 hours after the milk has been collected from the farms, but the costs increase rapidly to more than €140,000. With this study, we showed that a modeling approach can give insight into the relation between recall costs and time, and it can support the development of monitoring schemes at the chain level. [EconLit citations: D210, Q180]. Â© 2009 Wiley Periodicals, Inc.

show abstract

“…For example, Golub, Wilson and Featherstone (2005) examined stock price reactions to contamination of the corn supply with a genetically modified variety, StarLink, that had not been approved for human food use. Others have investigated events involving microbial or other contaminants that have resulted in food recalls on commodity prices or stock prices (Lusk and Schroeder, 2002;McKenzie and Thomsen, 2001;Thomsen and McKenzie, 2001). …”

mentioning

confidence: 99%

LL601 Contamination and Its Impact on U.S. Rice Prices

Li¹,

Wailes²,

McKenzie³

et al. 2010

J. agric. appl. econ.

View full text Add to dashboard Cite

LL601 is a genetically modified rice variety and unapproved for commercial use. Its presence was found in commercial shipments of U.S. rice in 2006. This article explores its impact on prices and volume marketed for both the United States and Thailand, the major export competitor. The results show a significantly adverse but short duration effect on the U.S. rice market and little to no effect on the Thai rice market.

show abstract

Market Incentives for Safe Foods: An Examination of Shareholder Losses from Meat and Poultry Recalls

Cited by 173 publications

References 14 publications

Efficacies of Nisin A and Nisin V Semipurified Preparations Alone and in Combination with Plant Essential Oils for Controlling Listeria monocytogenes

Efficacies of Nisin A and Nisin V Semipurified Preparations Alone and in Combination with Plant Essential Oils for Controlling Listeria monocytogenes

Distribution of direct recall costs along the milk chain

LL601 Contamination and Its Impact on U.S. Rice Prices

Contact Info

Product

Resources

About