EconPapers    
Economics at your fingertips  
 

Emergy evaluation for decision-making in complex multifunctional farming systems

Ana Margarida P. Fonseca, Carlos A.F. Marques, Pinto-Correia, Teresa, Nuno Guiomar and Daniel E. Campbell

Agricultural Systems, 2019, vol. 171, issue C, 1-12

Abstract: In a montado farm, commonly found in the South Portugal, human activities benefit from important fluxes of renewable resources. In this study, traditional economic and emergy evaluations are compared to determine their potential contributions to understanding this complex system and applied to a case study of a farm. This allows us to determine how each method values local natural resources and purchased factors of production and services in an empirical context. Results show that the montado farm has a renewable component evaluated at 27% of the total social costs of the system and that the work of natural resources is undervalued in economic budget accounting. Economic evaluation's relative value of purchased factors and services is three and half times higher than their emergy share. We propose that complementing economic budget accounting with emergy accounting provides a benchmark to evaluate the environmental contribution to agricultural and farming systems. In this way, factors external to markets can be evaluated for farming systems, bringing to economic analysis a full evaluation of resources, including the bio-geophysical system's contributions to wealth, enlarging total economic value of resources with a donor perspective enabling a better informed and comprehensive accounting to attain sustainable economic decisions and public policies.

Keywords: Emergy; nature's work; montado silvo-pastoral system; Donor-based value (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0308521X1830920X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:agisys:v:171:y:2019:i:c:p:1-12

Access Statistics for this article

Agricultural Systems is currently edited by J.W. Hansen, P.K. Thornton and P.B.M. Berentsen

More articles in Agricultural Systems from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-05-04
Handle: RePEc:eee:agisys:v:171:y:2019:i:c:p:1-12