Calculating the Economic Toll of Food Poisoning: A Comparison of Methods

When it comes to foodborne illnesses (FBI), the economic damage can be huge, especially in developed countries. One of the biggest hits is the loss of productivity. This happens when people miss work because they're sick, aren't as efficient when they do work, or have long-term health problems that keep them from working. To figure out how much this costs, economists use different methods. The human capital approach (HCA) and the friction cost approach (FCA) are the most common. There's also the willingness-to-pay (WTP) approach, which asks how much people would pay to avoid getting sick.Each method has its own way of looking at things. HCA, for example, values a person's productivity like a machine's output. It doesn't consider how easy or hard it is to replace that person. FCA, on the other hand, factors in the time it takes to find a replacement. WTP is more about what people think their health is worth. Getting a clear picture of how much FBI costs in lost productivity is important. It helps us understand the broader economic impact. But it's also tricky because each method has its pros and cons.