The Economics of Private Forest Management

Author

D.D. Dole No 232286, Discussion Papers from  University of Western Australia, School of Agricultural and Resource Economics Abstract: The majority of forest land in the U.S. is owned by individuals and institutions that are not directly involved in the forest products industry. Much of this land is thought to be managed inefficiently, but the reasons for this are unclear. This article focusses on three possible factors: information and transactions costs; nonfinancial forest values; and liquidity constraints. Models for the reforestation and harvesting decisions are presented that incorporate these factors. These models use the Faustmann model to define the financial value of forest land, and borrow from previously developed models of nonindustrial private forest management to incorporate the other factors into the forest management decision. A wealth of data exists on nonindustrial private forest management, and discussion focusses in particular on models that are suitable for the study of existing data. Keywords: Environmental Economics and Policy (search for similar items in EconPapers) Date: 1994 References: View references in EconPapers View complete reference list from CitEc Citations Track citations by RSS feed Downloads: (external link) http://purl.umn.edu/232286 (application/pdf) Related works: This item may be available elsewhere in EconPapers: Search for items with the same title. Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: http://EconPapers.repec.org/RePEc:ags:uwapdp:232286 Access Statistics for this paper More papers in Discussion Papers from  University of Western Australia, School of Agricultural and Resource Economics Contact information at EDIRC. Series data maintained by AgEcon Search (aesearch@umn.edu).

For further details log on website :
http://econpapers.repec.org/paper/agsuwapdp/232286.htm