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Economics of Multifunctional Forestry in the Sámi People Homeland Region

Parkatti, Vesa-Pekka; Tahvonen, Olli - 2020

We study forestry in the Sámi people homeland region to understand an ongoing conflict between conventional forest … husbandry, and a flexible optimization between rotation forestry (cf. clearcuts) and forestry that maintains continuous … forestcover. We show that the profitability of conventional forestry is based on utilizing existing forest stands, an outcome that …

Persistent link: https://www.econbiz.de/10012419726

Hedging with Trees: Tail-Hedge Discounting of Long-Term Forestry Returns

Hultkrantz, Lars; Mantalos, Panagiotis - 2016

, the other with the risk-free rate. We estimate gamma for forestry on Swedish data for stumpage prices and GDP per capita … 1909- 2012. We demonstrate in three forestry cases that the result considerably changes the expected present value of long …-term forestry investments. …

Persistent link: https://www.econbiz.de/10012654413

Distortionary, non-distortionary, and distributional properties of environmental taxes: Extension of Sandmo's observation

Page, Talbot; Zhang, Qinghua - 2003

We find a limited parallel between lump-sum taxes and environmental taxes. Corollary 2, which extends Sandmo’s observation, shows that appropriated corrective revenues have the same non-distortionary effects as lump-sum taxes, the result reducing to the original observation when the...

Persistent link: https://www.econbiz.de/10010318913

Contest success functions: The common-pool perspective

Ewerhart, Christian - 2015

of irrelevant alternatives (Skaperdas, Economic Theory 1996). The present paper develops an alternative approach that …

Persistent link: https://www.econbiz.de/10011282529

Can the Global Forest Sector Survive 11°C Warming?

Favero, Alice; Mendelsohn, Robert; Sohngen, Brent - 2017

It is well known that the forestry sector is sensitive to climate change but most studies have examined impacts only …

Persistent link: https://www.econbiz.de/10011816743

Adoption Gaps of Environmental Adaptation Technologies with Public Effects

Antoci, Angelo; Borghesi, Simone; Galdi, Giulio; … - 2019

The global nature of the climatic challenge requires a high level of cooperation among agents, especially since most of the related coping strategies produce some kind of externalities toward others. Whether they are positive or negative, the presence of externalities may lead the system towards...

Persistent link: https://www.econbiz.de/10012146432

Constrained inefficiency in GEI: A geometric argument

Tirelli, Mario - 2005

In this paper we use global analysis to study the welfare properties of general equilibrium economies with incomplete markets (GEI). Our main result is to show that constrained Pareto optimal equilibria are contained in a linear submanifold of the equilibrium set. This result is explicitly...

Persistent link: https://www.econbiz.de/10010318896

Marginal contributions and externalities in the value

De Clippel, Geoffroy; Serrano, Roberto - 2005

Our concern is the extension of the theory of the Shapley value to problems involving externalities. Using the standard …

Persistent link: https://www.econbiz.de/10010318952

Ambiguity and social interaction

Eichberger, Jürgen; Kelsey, David H.; Schipper, Burkhard C. - 2005

We present a non-technical account of ambiguity in strategic games and show how it may be applied to economics and social sciences. Optimistic and pessimistic responses to ambiguity are formally modelled. We show that pessimism has the effect of increasing (decreasing) equilibrium prices under...

Persistent link: https://www.econbiz.de/10010274390

Overborrowing and systemic externalities in the business cycle

Bianchi, Javier - 2009

Credit constraints that link a private agent’s debt to market-determined prices embody a credit externality that drives a wedge between competitive and constrained socially optimal equilibria, inducing private agents to overborrow. The externality arises because agents fail to internalize the...

Persistent link: https://www.econbiz.de/10010292300