The food system, the most important driver of planetary transformation, is in a deep crisis. Therefore, seeking a sustainable and socially-fair transition pathway becomes an issue of utmost priority for our own survival. The consideration of food as a commodity, a social construct that played a central role in driving this crisis, remains the uncontested narrative to lead the different transition pathways what seems rather contradictory. By exploring the normative values in the transition landscape, this paper seeks to understand how relevant is the hegemonic narrative of “food as commodity” and its alternative of “food as commons” to determine transition trajectories and food policy beliefs. Applying the Multi-level Perspective framework and developing the ill-studied “agency in transition”, this research enquired food-related professionals that belong to an online community of practice (N=95) on valuation of food dimensions and agency in food transitions to check whether the valuation of food is relevant to explain personal stances in transition. Results suggest the socially-constructed view of food as commodity is positively correlated to the gradual reforming attitude, whereas food as commons is positively correlated to the counter-hegemonic transformers regardless the self-defined position in the transition landscape (regime or niches). At personal level, there are multiple loci of resistance with counter-hegemonic attitudes in varied institutions of the regime and the innovative niches, many of them holding this discourse of food as commons. Conversely, alter-hegemonic attitudes are not positively correlated to this alternative discourse and they may inadvertently or purportedly reinforce the ‘‘neoliberal narrative’’. Food as commons, a different narrative whose rationale is explained in the paper, seems to be a relevant framework that could enrich the multiple transformative constituencies that challenge the industrial food system and therefore facilitate the convergence of movements that reject the commodification of food.

Forests are crucial natural resources in Indonesia, storing significant biodiversity and providing essential benefits for both the environment and people's livelihoods. They contribute significantly to the country's economy, support local communities, and play a vital role in mitigating climate change through carbon sequestration. This study examines the carbon storage valuation in tree forests of Telaga Warna National Park, Indonesia, highlighting the importance of preserving forests for carbon sequestration and climate resilience. The data was collected within a subplot measuring 10x10 meters, and for trees within a plot measuring 20x20 meters. The study focuses on pole and tree species. Based on the data obtained, it is found that the dominant vegetation in Telaga Warna National Park is Riung Anak / Casitanopsis javanica, with a potential carbon value of US$ 2.96 per Ha for pole species and US$ 98.49 for tree species.

ESG (Environmental, Social, and Governance) responsibility fulfillment increasingly affects enterprise valuation. Although researchers debate about the precise effects, the prevailing view suggests a linear relationship between ESG performance and enterprise value. This study introduces a novel ESG responsibility performance metric through the Regulated Intermediary Model to delve into this relationship within the Chinese context. Our findings reveal an inverted U-shaped relationship between ESG performance and enterprise value, with financing constraints having a significant moderating effect. These findings remain robust after employing instrumental variables to mitigate potential endogeneity. Heterogeneity analysis demonstrates that this inverted U-shaped relationship is particularly pronounced in non-polluting and non-state-owned enterprises. Moreover, a comparison between equity and debt financing mechanisms underscores that improved ESG performance is associated with lower cost of equity financing, thereby enhancing enterprise value. Financial institutions are encouraged to leverage innovative financial instruments to diversify enterprise financing channels and alleviate financing constraints of enterprises that fulfill their ESG responsibilities.

This research study examined the compensation requirements for households facing involuntary displacement caused by a railway development project in Ethiopia's Amhara Region. Using the contingent valuation approach, researchers estimated compensation needs, taking into account ecosystem services and household characteristics. Surveys and questionnaires were conducted with 170 affected households to gather data on compensation preferences and experiences using double-bounded dichotomous method. The collected data were analyzed using a probit model to assess the influence of compensation amount, satisfaction, marital status, religion, and education on the satisfaction levels of affected households. The findings emphasized the significant impact of these factors and the necessity of fair compensation policies in development projects. The study revealed that the Minimum Willingness to Accept (MWTA) for households was - 2.274 billion Ethiopian Birr, significantly surpassing the compensation amount provided. The study highlighted the importance of considering household possessions and the ecosystem in designing tailored compensation strategies. The research revealed strong opposition to displacement, underscoring the need for customized compensation schemes that address preferences and non-monetary aspects. The discontent expressed by the respondents emphasized the importance of designing compensation schemes that ensure the sustenance of livelihoods without further disruptions. The study provided valuable guidance to stakeholders involved in addressing involuntary displacement, empowering them to make informed decisions and implement context-specific compensation policies. These findings contribute to the formulation of more effective and equitable compensation schemes, emphasizing comprehensive strategies for the welfare of affected households.

There is less attention to use an environmental perspective in economic valuation and individuals' willingness to pay for recreational sites. Therefore, the aim of this study is to use contingent valuation methods to estimate the recreational value and willingness to pay of visitors to the protected area of Helen forest, considering the scale of the new environmental paradigm (NEP). To achieve this, the sample size for survey was determined using the Cochran method, and then economic valuation and environmental perspective questions were designed and completed through the completion of a dual-dimensional questionnaire and NEP scale. To determine the factors influencing individuals' willingness to pay, the logistic regression model was employed. In this study, two modeling approaches were used. The first utilized a base model containing socio-economic variables, while the second model integrated a NEP into the base, and subsequent estimations were conducted. The results indicated that 83.04% of visitors are willing to pay an amount for the recreational use of the study area. The estimated model results demonstrated that variables such as the proposed amount, frequency of visits, environmental statement, age, gender, education, individual monthly income, residency, and the NEP are among the most influential factors affecting the likelihood of accepting the proposed amount by tourists. The strong and positive correlation between the NEP and willingness to pay indicates that individuals with a favorable environmental perspective tend to exhibit a higher willingness to pay. In this study, the average willingness to pay per household per visit was 199,793 Rials, and the annual recreational value for the entire Helen forest area was 23746832564 Rials. Furthermore, the survey results regarding visitors' perspective on the NEP revealed that the average NEP score for visitors to Helen forest was 36.57, with the statement 'plants and animals have similar rights to humans' receiving the highest average score of 28.4. The result of this study shows the importance of environmental perspective for sustainable management of a recreational site to balance economic development with environmental conservation and social well-being.

Revitalization of open water bodies into recreational areas are becoming widely popular in many parts of Sri Lanka. Understanding community perception and expectation on recreational development have important policy and cost-effectiveness implications. This paper explores the public perspectives on development, conservation and value of the open water recreational development at Diyatha Uyana and surrounding area. Contingent Valuation Method has been applied to estimate peoples’ Willingness To Pay for recreational spaces in the selected area. A total of 300 residents from different socioeconomic backgrounds were selected randomly for the study. Enjoying peace and relaxation, taking children to play and breath clean air were mentioned as most important aspects of open water body areas. More frequent visits occur to enjoy peace and relaxation, breath clean air and enjoy the natural landscape. Almost all the participants were agreed upon conserving open water body areas in urban settings. Willingness to pay was significantly associated with income and occupation status. It yielded a monthly average payment of Rs.446.93 per household for another five years’ time. The limited budget was the main reason for not willing to pay. This paper is significant as there is no contingent valuation method study has been carried on water body development in Sri Lanka.

Maritime data not only identify financial resources that can significantly enhance the efficiency of shipping companies but also play a pivotal role in promoting eco-friendly and sustainable shipping practices. However, active corporate strategies are required to include maritime data essential for the commercial operation of autonomous ships in the form of corporate assets by transparent evaluating the data. The aim of this study is to review previous studies on da-ta-valuation models, identify a valuation model suitable for maritime business, consider the characteristics of maritime data. The analytic hierarchy process (AHP) method is used to derive priorities for valuing maritime data assets, with emphasis placed on the characteristics of mari-time data, followed by the character of the future-oriented maritime-data market and the da-ta-valuation model. The results obtained that the most important factors in selecting a maritime data-valuation model by analyzing the AHP method were identified as the characteristics of the maritime data(M1). The next most important factors analyzed were the features of the mari-time-data market(M2) and the features of the maritime data-valuation model(M3) in order. In addition, the characteristics of maritime data were preferentially considered among the main criteria, and the market approach (A2) was selected as the most optimal valuation model. The potential impact of this implementation could contribute to the establishment of an intelligent technology market by estimating the value of data and developing a platform for maritime data trading, allowing for more efficient data sharing and utilization by maritime autonomous sur-face ship(MASS).

Deciding when to replace dairy bulls presents a complex challenge for artificial insemination (AI) companies. These decisions encompass multiple factors, including a bull's age, predicted semen production, and estimated genetic merit. This study's purpose was to provide a practical, objective tool to assist in these decisions. We utilized a Markov Chain model to calculate the economic valuation of dairy bulls, incorporating key factors such as housing costs, collection and marketing expenses, and the bull's probable tenure in the herd. Data from a leading AI company were used to establish baseline values. The model further compared a bull's net present value to that of a potential young replacement, establishing a relative valuation (BullVal$). The range of BullVal$ observed spanned from -$316,748 to $497,710. Interestingly, the model recommended culling for 49% of the bulls based on negative BullVal$. It was found that a bull's net present value was primarily influenced by market allocation and pricing, coupled with the interaction of semen production and genetic merit. This study offers a robust, data-driven model to guide bull replacement decisions in AI companies. Key determinants of a bull's valuation included market dynamics, semen production rates, and genetic merit.

The objective was to estimate the monetary loss of potato producers up to the year 2100 as a result of temperature and precipitation impacts, taking into account the A2 and B2 scenarios of the IPCC (Intergovernmental Panel on Climate Change). The Pooled Production Panel Model was used, whose database was prepared taking into account climatic variables (temperature and precipitation) and agricultural variables (production, harvested area, farm-gate price) for the period 1996 - 2020, which form the independent variables of the study. The estimations used 60 observations and a total of 38 estimations were run in the econometric software EViews8, of which Equation 05 of the Production Pooled Panel Model was chosen as the best. The model obtained used temperature and precipitation forecasts from Brazil's INPE (National Institute for Space Research), validated for the study area. The results indicate a concave function between potato production (t/ha), temperature and precipitation. Finally, based on the A2 climate scenario, which is the most pessimistic and using the period 2021 - 2100, a loss for potato producers of approximately 8'927,521.48 million soles was estimated.

During the last years the desire and the need for green buildings have been increased. The rise of energy cost, the higher transportation expenses and the international challenges along with the climate change are related with the green buildings market but are also affecting the cost of construction. The aim of this research is to discover and confirm the increased request of green properties and to investigate whether this is related to a new need or just a desire of the buyers. Moreover, the paper examines the people’s knowledge of greenness and sustainability and their wish to live and work in sustainable buildings. Finally, do the buyers will to pay extra in order to purchase a sustainable property and how sustainability can affect the market value and the construction industry. The participants who took part in this research were people that are living and working in Cyprus. One of the significant outcomes was the fact that people who have the knowledge and awareness related to sustainability are willing to pay extra to purchase green properties.

Putting value to ecosystem services is something that society still refuses or simply ignores because it is not aware of the benefits that ecosystems provide us. In fact, people should be aware that a good understanding of ecosystem services can lead to win-win situations. Being aware of the importance of preserving the ecosystem and attaching value to its services will enable the development of self-sustaining strategies and appropriate policies for better ecological governance. Decades of over exploitation of natural resources, introduction and spread of alien species and, also, climate change, forest fires among other threats, have fostered biodiversity loss. The European Union Biodiversity Strategy has as one of its main goals to stop biodiversity loss and the degradation of ecosystem services; if possible, to recover the most threatened and degraded ecosystems, based on 20 Actions divided into 6 Targets. The present work falls within the scope of Action 5 of Target 2 – Improve knowledge of ecosystems and their services in the EU. The specific focus of this study is the Site of Community importance “Dunas de Mira, Gândara and Gafanhas” (Portugal) and the assessment of its ecosystem services, in accordance with the methodology proposed by the MAES (Mapping and Assessment of Ecosystems and their Services) Working Group. The work currently under way, a small segment of which is presented here, aims to identify, map and, when possible, assign value to the ecosystem services. For this purpose, modern GIS technologies will be used. This approach was implemented using a combination of data and tasks, including the photo-interpretation of Sentinel 2 (COPERNICUS Program) satellite imagery. The data geoprocessing tasks and image segmentation were developed using QGIS software and IMPACT Toolbox software (developed by the Joint Research Center – JRC, of the European Union), respectively. The analysis of Land Use and Burned Areas maps for the SCI "Dunas de Mira, Gândara and Gafanhas" led us to conclude that Forests ecosystems, the most affected by the fire of October 2017, continue to have the greatest expression in the area under study even though they have lost more than 50% of the area, and their services were also the ones most affected by the fire.

A variable annuity is a popular life insurance product that comes with financial guarantees. Using Monte Carlo simulation to value a large variable annuity portfolio is extremely time-consuming. Metamodeling approaches have been proposed in the literature to speed up the valuation process. In metamodeling, a metamodel is first fitted to a small number of variable annuity contracts and then used to predict the values of all other contracts. However, metamodels that have been investigated in the literature are sophisticated predictive models. In this paper, we investigate the use of linear regression models with interaction effects for the valuation of large variable annuity portfolios. Our numerical results show that linear regression models with interactions are able to produce accurate predictions and can be useful additions to the toolbox of metamodels that insurance companies can use to speed up the valuation of large VA portfolios.

If a subject learns about the properties of an alternative under a high state of food deprivation, it will prefer this alternative over a similar one in a later choice test, although the subject is currently under a relative state of satiety. In this experiment, we probe this effect in a delay-discounting task, where the reward of the experienced alternative is progressively delayed. Eight male Wistar rats were trained to respond to an alternative under a high state of deprivation and eight rats under a relative state of satiety. After 20 sessions, their weight was recalibrated to a state of relative satiety. Then, they were exposed to a delay-discounting task where the long-larger alternative was the one used during training. The group that experienced the alternative under a higher level of food deprivation preferred more this alternative, and its preference stayed across time. On the contrary, the group that experienced the alternative under a lower level of food deprivation systematically preferred the small-shorter alternative. Our results support that the reinforcement value may be sensitive to the organism's state at the moment an alternative is experienced for the first time.

Declining water supply is the main cause of rising water fee for agricultural use. Moreover, in non-technical irrigation, poor irrigation infrastructure exacerbates water scarcity. Thus, the purpose of this study is to identify farmer willingness to pay for non-technical irrigation and its determinants. Structured questionnaire was used to collect data from 100 farmers. Contingent valuation method was employed to elicit farmer WTP and multiple linear regression was used to find its determinants. The result shows that farmer average WTP is Rp 3,055,168 /ha/year. It accounts for 20 percent of total farmer revenue and almost 20 times fee for technical irrigation. Economic and technical variables are the significant determinants of WTP while social variables seem insignificant to WTP. This result indicates high economic value of water, and to improve irrigation management we recommend establishing irrigation infrastructure gradually by mobilizing farmer resources (capital and management) and strengthening WUA.

Dynamic hedging has been adopted by many insurance companies to mitigate the financial risks associated with variable annuity guarantees. In order to simulate the performance of dynamic hedging for variable annuity products, insurance companies rely on nested stochastic projections, which is highly computationally intensive and often prohibitive for large variable annuity portfolios. Metamodeling techniques have recently been proposed to address the computational issues. However, it is difficult for researchers to obtain real datasets from insurance companies to test metamodeling techniques and publish the results in academic journals. In this paper, we create synthetic datasets that can be used for the purpose of addressing the computational issues associated with the nested stochastic valuation of large variable annuity portfolios. The runtime used to create these synthetic datasets would be about 3 years if a single CPU were used. These datasets are readily available to researchers and practitioners so that they can focus on testing metamodeling techniques.

In this article we investigate the impact of “Renewable Electricity Output” on green economy in the context of circular economy for 193 countries in the period 2011-2020. We use data from World Bank ESG framework. We perform Panel Data with Fixed Effects, Panel Data with Random Effects, WLS, and Pooled OLS. Our results show that Renewable Electricity Output is positively associated, among others, to “Adjusted Savings-Net Forest Depletion” and “Renewable Energy Consumption” and negatively associated, among others, to “CO2 Emission” and “Cooling Degree Days”. Furthermore, we perform a cluster analysis implementing the k-Means algorithm optimized with the Elbow Method and we find the presence of 4 clusters. Finally, we confront seven different machine learning algorithms to predict the future level of “Renewable Electricity Output”. Our results show that Linear Regression is the best algorithm and that the future value of renewable electricity output is predicted to growth on average at a rate of 0.83% for the selected countries.

In this article we investigate the role of “Renewable Energy Consumption” in the context of Circular Economy. We use data from the World Bank for 193 countries in the period 2011-2020. We perform several econometric techniques i.e., Panel Data with Fixed Effects, Panel Data with Random Effects, Pooled OLS, WLS. Our results show that “Renewable Energy Consumption” is positively associated among others to “Cooling Degree Days” and “Adjusted savings: net forest depletion” and negatively associated among others to “GHG net emissions/removals by LUCF” and “Mean Drought Index”. Furthermore, we perform a cluster analysis with the application of the k-Means algorithm optimized with the Silhouette Coefficient and we find the presence of two clusters. Finally, we compare eight different machine learning algorithms to predict the value of Renewable Energy Consumption. Our results show that the Polynomial Regression is the best algorithm in the sense of prediction and that on average the renewable energy consumption is expected to growth of 2.61%.

This study examined if people who reside in different regions of South Korea exhibit different WTP for the mitigation of PM2.5 emissions from coal power plants by restricting the operation of such plants during the winter and spring when air pollution becomes severe. A contingent valuation method combined with a double bounded dichotomous choice was used to derive people’s WTP for the mitigation of PM2.5 emissions. Sample group was divided into central, western, eastern, and southern regions. It is known that the eastern region is affected by northwesterly winds in the winter and spring seasons, so air pollutants in the eastern areas fly to the eastern sea. According to the estimation results, respondents who live in eastern regions showed significantly lower WTP than the average WTP. We suggest that the mitigation policy on PM2.5 emissions should consider regional differences in the contributions of coal power plants to PM2.5 emissions.

Public funding of land consolidation projects is an instrument of the Common Agricultural Policy of the European Union (CAP). The execution of systematic land consolidation programmes focused on optimising the spatial structure of agricultural areas presents a possibility to improve agricultural production conditions and maximise the efficiency of agriculture on a local, regional, national and international level. However, due to limited access to financial resources, it is necessary to delimit the priority areas for land consolidation. A contemporary practice based on the assessment of the social support percentage of potential land consolidation projects in individual villages does not represent a real necessity for action. This problem leads to ineffective utilisation of financial resources and reduces the efficiency of the implemented programmes. We proposed a new algorithm for assessing real needs for land consolidation based on a detailed multi-faceted analysis of the spatial structure of agricultural areas. The research method involved factors describing the spatial structure defectiveness of farms as well as those determining land quality in correspondence to investment’s profitability. Another factor verifying the potential economic rationale of land consolidation was transaction prices mostly reflecting the agricultural value of the land. The analysis showed that land consolidation in areas with defective spatial structure and a relatively high market value should be a priority. This approach will contribute to maximising profits by increasing the productivity of areas featuring the highest agricultural suitability.

Wellness tourism is a growing segment that destinations can rely on to increase tourism flows and revive underdeveloped rural areas. This study elicits tourists' preferences for wellness tourism products and the redevelopment of a wellness destination in a depopulated rural area. The re-search included 595 participants in Central Greece using on-site, face-to-face surveys. The survey data was analyzed using a two-step process. First, conjoint analysis was applied to determine the combination of wellness tourism product attributes that maximize visitors’ utility. In the second step, we elicited visitors' willingness to pay (WTP) for improvements in tourism product attributes using the contingent valuation method. Findings indicate that the combination of attributes that maximizes the preference structure of respondents includes time of visit from September to Oc-tober, duration of visit from 1 to 7 days, wellness tourism as the primary purpose of the visit, and wellness activities that contain both physical activities and training as well as spiritual and emo-tional enhancement. Using binary logistic regression, the analysis indicates that respondents are willing to pay 47.33€ per visit on average further to develop wellness tourism products in the study area. Empirical results confirmed that sustainability issues, quality, and entrepreneurship factors positively impact visitors' WTP for revitalizing wellness products. In contrast, a longer duration of stay in the area and respondents' age negatively impact their WTP. These findings suggest that structuring a customer-driven tourism product will enhance the rural destination's efforts to attract high-yield visitors and advance the rural economy. Furthermore, practical im-plications reveal that Destination Management Organizations will benefit from research results to foster targeted management plans.

Food demand and food supply have been heavily affected by Covid-19 pandemic. To understand changes in households’ behavior related to the pandemic, we investigate the willingness to pay for local organic apples pre- and during Covid-19. Besides, we assess whether the changes occurred within the family, estimating also separate models for the two members of the couple. Our findings show that respondents show a positive price premium for local organic apples whose consumption helps reducing the environmental costs associated with food production. The median estimated values during the pandemic range from 34% to 250%. Overall, respondents show a positive mean willingness to pay which increase with the pandemic. The socio-economic variables are the most important in explaining the willingness to pay, while the behavioral variables have more heterogeneous results even if the lifestyle and the request for information through the label are important variables. The pandemic tends to narrow the gaps in preferences between members of the couple. In conclusion, the local and organic dimension is embodied in the short chain in which knowledge and trust in the producer are crucial elements in the consumer's choices.

In this paper we focus on an implicit assumption in the BSM framework that limits the scope of market network connections to seeking gains in the currency basis, i.e., on trading strategies between the numeraire and the stock and between the numeraire and the option, separately. We relax this assumption and derive the equivalent of the standard BSM approach under a more general market network framework in order to assess its implications. In doing so, we find that it is not possible to hedge the implicit option that allows one to directly trade the option and stock. This represents a potential challenge to the BSM framework, since the missing market network connection provides a potentially useful mechanism for risk-bearing portfolio managers to alter their portfolios.

Fresh water springs are unique natural resources in Florida, currently under threat from increasing groundwater pumping and pollution resulting from a variety of sources. This paper estimates current recreation benefits from visiting springs using the travel cost method and elicits residents’ willingness to contribute for springs restoration using the contingent valuation method. It further compares the performance of count data models correcting for endogenous stratification and truncation, and finds that the annual consumer surplus per person per trip is between $20 and $43. Furthermore, visitors are willing to contribute $12 to $14 per person per trip for springs restoration without reducing trip demand.

Recent pollinator declines have focused efforts on their conservation which require clear estimates of pollination value to agriculture. Our socio-economic producer surveys and agronomic field research data were used to present a new way of estimating ecosystem service value of native pollinators. Using two regionally important U.S.A. crops, Maine wild blueberry and Massachusetts cranberry as models, we present perceived values of native bee pollinators from both consumer and producers. Wild blueberry’s Replacement Cost (RC) was greater than Attributable Net Income (ANI), since greater rented honey bee stocking densities are required. Attributable Net Income for native bees were similar for wild blueberry ($613/ha) and cranberry ($689/ha). Marginal Net Farm Income (MNFI) from incrementally adding more hives per ha was greater from stocking a third/fourth hive per ha for cranberry ($6,206) than stocking a ninth/tenth hive per ha for wild blueberry ($556), given greater responsiveness of yield, revenue, and profit to using rented honey bee hives in cranberry compared to wild blueberry. Both crops’ producers were only willing to annually invest $140–188/ha in native pollination enhancements on their farms, justifying government support. Consumers are willing to pay ~6.7 times more to support native bees than producers, supporting market-based support for invertebrate conservation.

Knowledge is a property that measures the degree of awareness of an agent about a target in an environment. The goal in conventional intelligent and cognitive agent development is to build agents that can be trained to gain knowledge about a target. The definition and operations of this knowledge associated to the agent is not clear, whereas these are required for developing a reliable, scalable and flexible agent. In this paper, we provide a concise theoretical framework for the description and quantification of the knowledge property needed for an efficient design of cognitive and rational intelligent agents. We relate the quantification scheme to the epistemological description of knowledge and present many illustrative examples on the usefulness of the quantification scheme.

The field of water management is continually changing. Water has been subject to external shocks in the form of climate change and globalization. Analysis of water management is subject to disciplinary developments and inter-disciplinary interactions. Are these developments well documented in the literature? Initial observations on interdisciplinary literature suggest that results are fragmented, implying that a state-of-the-art review is needed. The objective of this paper is to close this gap by reviewing recent developments in water economics that address the increasing perceptions of water scarcity by looking first at changes in supply and quality of water, and then at impacts of climate change on water extremes. Among responses to such challenges, the paper identifies changes to water use patterns by including and co-managing water from different sources—surface and groundwater, wastewater, and desalinated water. Technological advancements also are among the resources that address water challenges. Water challenges reflect also on management of internationally shared water. A recent surge in scientific work identified international treaties as playing a significant role in water management. The paper reviews recently employed economic tools, such as experimental economics, game theory, institutional economics, and valuation methods. And finally, it explores modeling approaches, including hydro-economic and computable general equilibrium models that are being used to deal with water challenges.

Although floods, as well as other natural disasters, can be considered relevant causes of intra-generational inequalities, the frequent catastrophes and the resulting damages to territory reflect the generalized indifference about inter-generational justice. Societal concerns, such as land protection, typically involve the administrative system performing proactive policies in the perspective of inter-generational solidarity, but subsidiarity has made more and more independent the local communities. As a consequence, the attention toward the long run effects – typically concerning the territorial system, as a whole, at the geographical scale – has been dispersed, and the proactive policies coming from the central government has became more ineffective. Regarding the case of the flood happened in 2009 in the Fiumedinisi-Capo Peloro hydraulic basin, in the northeastern part of Sicily, Italy, we propose an economic valuation – carried out by performing the method of the imputed preferences – in order to compare the expenses incurred by the public authorities responsible for protecting the territory to the costs of the rehabilitation of the damaged areas. Some considerations about the economic significance of the proactive policies for the arrangement of territory are addressed according to the role played by the social discount rate in the inter-temporal economic calculation.