ABSTRACT
ABSTRACT: The objective of this paper is to analyse the socio-economic impact of past drought events making use of the theoretical approach provided by the consumer surplus theory. The paper is then focused on the main outcomes of the ex-post evaluation of the socio-economic impact of the drought events occurred in some areas in Europe (Po basin in Italy, Jucar Basin in Spain, Portugal) realized for the DROUGHT&R-SPI project. The findings refer in particular to the impacts on agriculture, the most relevant and vulnerable economic sector identified in these areas. In the first paragraph, the theoretical approach (consumer surplus theory) and the relevant literature is shortly presented. The second paragraph is dedicated to the illustration and discussion of the results of the evaluation of the socio-economic effects of drought events on agriculture in the above mentioned case study areas, starting from an extensive illustration of the results concerning the Po river basin. In the third and last paragraph some conclusive remarks, including also some reflections on policy implications, are drawn.
