Economics of Forestry (International Library of Environmental Economics and Policy) / Edition 1

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The International Library of Environmental Economics and Policy explores the influence of economics on the development of environmental and natural resource policy. In a series of twenty five volumes, the most significant journal essays in key areas of contemporary environmental and resource policy are collected. Scholars who are recognized for their expertise and contribution to the literature in the various research areas serve as volume editors and write essays that provides the context for the collection.

Volumes in the series reflect three broad strands of economic research including 1) Natural and Environmental Resources, 2) Policy Instruments and Institutions and 3) Methodology. The editors, in their introduction to each volume, provide a state-of-the-art overview of the topic and explain the influence and relevance of the collected papers on the development of policy. This reference series provides access to the economic literature that has shaped contemporary perspectives on land use analysis and policy.

Author Biography
About the Editor
Roger A. Sedjo, Dr, Energy and Natural Resources Division, RFF, USA

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Product Details

Table of Contents

Series Preface
1 Calculation of the Value which Forest Land and Immature Stands Possess for Forestry 3
2 Concerning the Question of the Rotation Period in Forestry 41
3 Financial Maturity: A Theoretical Review 67
4 Impacts of Tax Alternatives on Forest Values and Investment 79
5 Economics of Forestry in an Evolving Society 103
6 An Economic Analysis of Forest Taxation's Impact on Optimal Rotation Age 131
7 The Effects of the Risk of Fire on the Optimal Rotation of a Forest 145
8 Effect on the Socially Optimal Rotation Period in Forestry of Biotechnological Improvements of the Growth Function 157
9 Timber Harvesting with Fluctuating Prices 175
10 Forest Taxation and Timber Supply under Price Uncertainty: Perfect Capital Markets 189
11 The Optimal Forest Rotation with Evolving Prices 213
12 How Much Land do we Need for Timber Growing? 223
13 Forests in the Long Sweep of American History 229
14 The Economics of Timber: A Renewable Resource in the Long Run 237
15 Mining of the Forest and the Time Path of the Price of Timber 253
16 An Optimal Control Theory Model to Estimate the Regional Long-Term Supply of Timber 269
17 An Economic Approach to Multiple Use 287
18 The Harvesting Decision when a Standing Forest has Value 295
19 Policy-Relevant Nonconvexities in the Production of Multiple Forest Benefits 303
20 Least-Cost Forest Carbon Reserves: Cost-Effective Subsidies to Convert Marginal Agricultural Land to Forests 323
21 Potential and Economic Efficiency of Carbon Sequestration in Forest Biomass Through Silvicultural Management 339
22 Effect of Carbon Taxes and Subsidies on Optimal Forest Rotation Age and Supply of Carbon Services 363
23 Technological and Economic Potential of Options to Enhance, Maintain, and Manage Biological Carbon Reservoirs and Geo-engineering 373
24 Forest Sector Impacts from Changes in Forest Productivity under Climate Change 417
25 The Marginal Cost of Species Preservation: The Northern Spotted Owl 429
26 Valuing Biodiversity for use in Pharmaceutical Research 447
Name Index 471
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