Managing environmental risk in agriculture: a systematic perspective on the potential of quantitative policy-oriented risk valuation

Abstract

This paper seeks to offer a systematic overview of methods and techniques for environmental quality degradation, with a particular view to the management of agricultural risk, against the background of policy relevance. The paper argues that modern valuation methods from ecological economics can play an important role in advancing transparent policy decisions, but at the same time the paper also warns against unjustified optimism. Consequently, also a systematic review of various caveats in evaluation methods is offered.