Economics of Forest Resources

The field of forest economics has expanded rapidly in the last two decades, and yet there exists no up-to-date textbook for advanced undergraduate-graduate level use or rigorous reference work for professionals. Economics of Forest Resources fills these gaps, offering a comprehensive technical survey of the field with special attention to recent developments regarding policy instrument choice and uncertainty. It covers all areas in which mathematical models have been used to explain forest owner and user incentives and government behavior, introducing the reader to the rigor needed to think through the consequences of policy instruments. Technically difficult concepts are presented with a unified and progressive approach; an appendix outlines the basic concepts from calculus needed to understand the models and results developed. The book first presents the historical and classic models that every student or researcher in forest economics must know, including Faustman and Hartman approaches, public goods, spatial interdependence, two period life-cycle models, and overlapping generations problems. It then discusses topics including policy instrument choice, deforestation, biodiversity conservation, and age-class based forest modeling. Finally, it surveys such advanced topics as uncertainty in two period models, catastrophic risk, stochastic control problems, deterministic optimal control, and stochastic and deterministic dynamic programming approaches. Boxes with empirical content illustrating applications of the theoretical material appear throughout. Each chapter is self-contained, allowing the reader, student, or instructor to use the text according to individual needs.

ISBN 0262012480   Pages 424 ISBN13 9780262012485 (What's this?)   Volumes 1 Publisher MIT Press Ltd   Weight (grammes) 817 Imprint MIT Press   Published in Cambridge, Mass. Format Hardback   Height (mm) 229 Publication date 05 May 2009   Width (mm) 178 Library of Congress 2008032762   Spine width (mm) 17 DEWEY 333.75   Academic level Further/Higher education, Professional / Scholarly DEWEY edition DC22   Interest age From 18

1		A brief history of forest economics thought		3
2		The Faustmann rotation model		11
3		Hartman models of timber and amenity production		43
4		Two-period life-cycle models		77
5		Design of forest policy instruments		113
6		Deforestation : models and policy instruments		145
7		Conservation of biodiversity in boreal and temperate forests		185
8		Forest age class models		213
9		Uncertainty in life-cycle models		239
10		Risk kof catastrophic events		267
11		Stochastic rotation models		293
12		Dynamic models of forest resources		323
App		Mathematics review		351
		References		359
		Author index		387
		Subject index		393

"Economics of Forest Resources is a comprehensive and well-written text covering the classic literature on the economics of forestry and the more recent literature that applies real option theory to the optimal rotation problem. The text also examines the economic incentives and public investment decisions that might contribute to tropical deforestation. This book can be used as a text for a course in forest or resource economics offered to advanced undergraduates or graduate students. Kudos to Amacher, Koskela and Ollikainen!"--Jon M. Conrad, Professor of Resource Economics, Cornell University "The first comprehensive advanced text-book on the economics of forestry resources written by real experts."--Karl-Gustaf Lofgren, Umea University, Sweden -- Karl Lofgren "The first comprehensive advanced text-book on the economics of forestry resources written by real experts." Karl-Gustaf Lofgren , Umea University, Sweden

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