Recent Findings from Zhongkai University of Agriculture and Engineering Highlight Research in Food Safety (Equilibrium Analysis of Food Safety Liability Insurance and Government Supervision in China): Foodborne Diseases and Conditions – Food Safety

2022 NOV 25 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Researchers detail new data in food safety. According to news reporting from Guangzhou, People’s Republic of China, by NewsRx journalists, research stated, “Food safety liability has required consideration around the world. It is realistic to establish a system of food safety liability insurance.”

Financial supporters for this research include Young Innovative Talents Project of Guangdong Ordinary Universities; Higher Education Teaching Research And Reform Project of Guangdong Province.

Our news editors obtained a quote from the research from Zhongkai University of Agriculture and Engineering: “However, the existing difficulties include members’ behavior decisions, influential factors, and the responsibility as well as obligations between the players. We build an evolutionary game model to discuss the behavior of food firms and the government in the context of food safety liability and identify evolutionary stability strategy of the participants in the game. Then, we simulate the stable evolution trend of the interaction between food firms and the government using MATLAB software. The results indicate that the initial probabilities of two-party game strategies affect the time length and convergence speed of system evolution but not the overall trend and final result of the evolution. Furthermore, decisions on purchasing food safety liability insurance be affected by the returns of food firms and government supervision. The more severe the punishment for food safety issues, the stronger the sense of crisis among food firms, and the higher probability they will purchase food safety liability insurance. The governance cost of food safety risks plays a role in affecting the strategic decision of the government.”

According to the news editors, the research concluded: “The ideal stable equilibrium state of the government and food firms cannot be achieved through spontaneous circulation. Suggestions are given from the perspective of government supervision and punishment to motivate food firms to insure actively.”

For more information on this research see: Equilibrium Analysis of Food Safety Liability Insurance and Government Supervision in China. Sustainability, 2022,14(13950):13950. (Sustainability - http://www.mdpi.com/journal/sustainability). The publisher for Sustainability is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/su142113950.

Our news journalists report that additional information may be obtained by contacting Gongliang Zhang, College of Management, Zhongkai University of Agriculture and Engineering, Guangzhou 510225, People’s Republic of China. Additional authors for this research include Ying Zhu.

(Our reports deliver fact-based news of research and discoveries from around the world.)