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This paper compares the performance of conventional and organic fruit farms in Spain, using a set of base indicators to assess their economic and environmental performance on a per hectare basis. Composite indicators are also calculated to measure the overall economic and environmental performance of both production systems. Comparisons are made using propensity score matching to minimize the non-randomization biases caused by structural differences between the samples of conventional (n = 552) and organic (n = 127) fruit farms sourced from the Spanish Farm Accountancy Data Network (RECAN). The results based on per hectare metrics point to modest changes in the performance of farms that converted to organic farming. This is mainly because most converted farms were former conventional farms characterized by lower profitability and less intensive input use, consequently minimizing the effects of the conversion process. Nevertheless, the conversion outcomes exhibit a degree of variability depending on the specific type of fruit production. Economic gains are only discernible in the case of nut farms, whereas fruit and tropical fruit farms tend to yield the most favorable results per hectare from an environmental perspective. • Changes in per hectare performance are assessed when fruit farms convert to organic. • A complete set of economic and environmental base and composite indicators is used. • A matching procedure is implemented to obtain unbiased difference estimators. • Small changes are found in the per hectare performance of farms after conversion. • Mixed results depending on the type of fruit production subsector considered. [ABSTRACT FROM AUTHOR]

This paper develops an Index of Sustainable Economic Welfare for Spain from 1970 to 2012 and seeks to update valuation approaches to a number of items. Two approaches have proven particularly controversial over recent decades; the costs of energy depletion and of climate change. The valuation implications in measuring present welfare have proven problematic, as both include future sustainability consequences arising from resource depletion and environmental impacts. This study includes a ‘ transition cost ’ approach to energy depletion, a modified approach to costs of climate change and water pollution, and removes the cost of ozone depletion. The results illustrate that while GDP per capita increased significantly, the ISEW per capita shows a widening gap. Household labour contributes strongly, but income distribution, energy depletion and costs of climate change limit improvement. Sensitivity analysis shows that accumulating climate change costs and escalating energy depletion costs have significant effects. Nevertheless, the new valuation approaches do not alter conclusions that welfare has shown little improvement. The ISEW provides a useful alternative to current indicators such as GDP subject to awareness of limitations. It is a measure of welfare that uses sustainability accounting methods when estimating costs, but is not an indicator of whether welfare is actually sustainable. [ABSTRACT FROM AUTHOR]

The success of a common property regime can be partially judged on the basis of its ability to handle extreme events that stress its capacity for cooperation. This paper compares the performance of 38 irrigation associations in a large irrigation area in Spain during a severe drought as a test of hypotheses derived from property right theories. The case is particularly interesting because it contains a transferable quota institution that can potentially strengthen the effectiveness of common property regimes in scarcity conditions. According to the results the use of transferable quotas across associations can contribute to cooperation and drought performance. In this context, performance is higher when the associations enjoy (1) effective monitoring systems, (2) experience and legitimate leaders, and (3) facilitative biophysical conditions like soil water holding capacity. The analysis also suggests that biophysical properties like soil water holding capacity may compensate for weaker monitoring or leadership, and vice-versa. [ABSTRACT FROM AUTHOR]

• Economic valuation assumes preference stability which is not confirmed by evidence. • We show that this is also the case for long-term water quality improvements. • Preference instability might reflect policy failures and not breach economic theory. • Policy inefficacy might increase protest behavior and decrease willingness to pay. • Economic valuation should consider potential biases from management performance. The Water Framework Directive (WFD) establishes that Programme of Measures (PoMs) to manage aquatic ecosystems have to be assessed to determine whether the benefits obtained from the good ecological status outweigh the costs. Stated preference methods have been widely applied to estimate non-market benefits of improved ecological status, assuming that respondents declare their true preferences that are stable over time. However, evidence on preference stability is mixed in the literature. The objective of this paper is to study preference stability towards water bodies improvement. As the WFD implementation has been delayed and have proven to be a greater challenge than expected, we focus on the effects of policy implementation failures on preference stability. We analyse two contingent valuation surveys to assess environmental values for the case of the Mar Menor (SE Spain) in years 2010 and 2017. We find higher protest response rate, changing indirect utility functions towards good ecological status and decreased WTPs in 2017. It indicates that public valuation might fail to adhere to rational economic premises when public authorities fail to reach environmental objectives and/or PoMs are not correctly implemented. Decision making based on stated preferences should carefully consider potential biases emerging from management performance. [ABSTRACT FROM AUTHOR]