Wildfires in the United States result in total damages and costs that are likely to exceed billions of dollars annually. Land managers and policy makers propose higher rates of prescribed burning and other kinds of vegetation management to reduce amounts of wildfire and the risks of catastrophic...

We estimate a wildfire risk model with a new measure of wildfire output, intensity-weighted risk and use it in Monte Carlo simulations to estimate welfare changes from alternative prescribed burning policies. Using Volusia County, Florida as a case study, an annual prescribed burning rate of 13%...