Welfare Science

Welfare Economics Animal Valuation

How welfare economics approaches valuing animal welfare outcomes, including statistical value of animal life and willingness-to-pay studies.

Key Facts

Traditional economic frameworks largely excluded animal welfare from cost-benefit analysis
Statistical value of animal life calculations are now being developed for farm species
Willingness-to-pay studies show significant consumer valuation of animal welfare
Welfare economics can inform optimal regulation of farm animal welfare standards
Externalising animal suffering costs distorts market incentives for welfare improvement

Welfare Considerations

Welfare economics offers tools to incorporate animal welfare into policy and market analysis. Calculating the economic value of animal welfare outcomes - through methods analogous to human value-of-statistical-life calculations - allows welfare costs to be compared with production costs in regulatory decisions. This approach strengthens the policy case for welfare standards by making previously invisible welfare costs visible.

What You Can Do

Support organisations developing economic frameworks for animal welfare valuation
Advocate for animal welfare cost externalisation to be included in food system analysis
Engage with academic welfare economics research that includes non-human animals