"Animal Wefare Economics," a recent article published in Applied Economic Perspectives and Policy, discusses production economics, welfare economics and public economics in the scope of animal welfare.

"Overall, economists have much to contribute to the animal welfare debate and the well-being of humans and animals could be improved with more economic analysis on the effects of private and government actions related to animal welfare," according to the article. The two authors, Jayson Lusk and Bailey Norwood of Oklahoma State University, say that it's crucial for everyone to understand the different economic forces at play and how they would be impacted by efforts to increase animal welfare.