| The position taken in this study is that long run sustainability is a complex and context dependent concept, implying that the estimation of value depends on the issues at stake, the decision actors involved and the criteria being emphasised. Sustainability connects the economic process explicitly to the natural environment and the study elucidates how thermodynamics can supplement, although not substitute economic analyses. Both natural and social systems are multidimensional and changes are difficult to assess in a simple, one-dimensional way. The standard assumptions in many decision methods concerning rationality are thus hardly adequate. The empirical focus is on agricultural production and wastewater handling and in four papers decision... |
