Brannman, Lance; Froeb, Luke M. - In: The Review of Economics and Statistics 82 (2000) 2, pp. 283-290
From bidding data, we estimate the underlying value distribution for Forest Service timber. We find that bidder values decrease $2/mbf (thousand board feet) with each mile from the tract and that small firms (fewer than 500 employees) have values that are $72/mbf lower than large firms. The...