first postulate the stochastic forest value and assume plausibly that monetary value of amenities is a continuous and non …-negative function of forest value thus presenting the trade-off between timber revenues and amenity values. Second, instead of using a … dynamic programming approach, we derive a recursive representation of the total forest value and solve the optimal rotation …

This paper provides a theoretical framework to study the behavioral and welfare effects of forest conservation, which … in a Cournot rivalry with the foreign forest industry. More specifically, we study how forest industry’s competitiveness … constrains forest conservation and whether the “green image” demand resulting from forest conservation compensates the loss in …

This article studies in an overlapping generations forest economy the conditions under which money and/or timber … preferences for consumption and for amenities from unharvested forest stock. Within this framework, we examine conditions under …