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Goat farming is an important production sector not only for Greece, but also for other Mediterranean countries, as it contributes to the family economy in rural areas. Despite the importance of goat farming, this sector has experienced economic difficulties due to poor management and increased production costs. The aim of our research is to determine goat farm profitability by surveying goat farmers for revenues, variable costs, and fixed costs of their farms. With the use of Principal Component Analysis, all economic factors contributing to overall production costs are examined, as well as their specific impacts on cost formulation. According to our results, goat farms in Greece are not profitable and they cannot survive without government subsidies. Farm economics and agricultural policies could be leveraged to improve community and environmental outcomes in order for farms to be economically and financially sustainable.

This paper presents goods and services approach to determine the economic value of Monachus monachus with the aim of clarifying the role of valuation in the management and conservation of marine biodiversity. More specifically, it uses Contingent valuation method to estimate the existence value of the Mediterranean seal population that is predicted to be lost in the future if we not take any measure today to protect them. Our empirical findings suggest that the major variables affecting respondents' willingness to pay were related to respondents' attitude against reasons (values) of monk seals conservations with non use value to play the most important role. Results show that monk seal is highly valued and people are willing to pay for the most endangered seal in Europe. The results would help the choice of management strategies; the economic valuation of monk seal is a key part of any successful management plane informs conservation biologists and policy makers about opportunity costs of protection activities.

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