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We propose a framework with endogenous allocation of land between agricultural production, sustainable forest management, and unsustainable forest exploitation in the form of illegal logging to explore deforestation and agricultural and timber supplies when property rights are insecure....
Persistent link: https://www.econbiz.de/10005765938
Persistent link: https://www.econbiz.de/10005766133
This paper extends the Hartman model to study the optimal rotation age of two interdependent stands when the stream of amenities produces from the two stands may be complements or substitutes, both in space and over time. In the presence of stand interdependence both the ownership structure and...
Persistent link: https://www.econbiz.de/10005181609