Abstract
In a peripheral rural area like the Pyrenees, it is necessary to promote local resources, which can be converted in value-added activities with comparative advantages in relation with other areas. The Comparative Advantage Theory and Second-Best Option (SBO) methodology are presented here. Each local territory can develop activities or services, even though there are other places that may be more suitable for them, when these are the best specialization option for this territory. The idea of SBO methodology means engaging in activities that make it possible to achieve a comparative advantage. Four cases are discussed: a) transformation of dairy products into competitive value-added commodities; b) promotion of extensive cattle farming based on local natural grass feed; c) development of value-added tourist activities linked to local landscape; and d) planning value-added cultural activities related with cultural heritage.