This paper uses an overlapping generations model with one-sided altruism to study the effects of several forest taxes that target bequests and affect timber supply. Unlike previous work, we investigate bequests and timber supply in both the short and long run when bequests are costly (e.g.,...

This paper examines the relationship between environmental pressure groupsand environmental policy makers. Environmental pressure groups are assumedto possess valuable private information on environmental issues.Environmental pressure groups are also assumed to pursue their ownpreferences, which...

Early exhaustible resource economics provides an important foundation for recent suggestions that firm-level economic modeling plays a larger role in the analysis of resource scarcity. The lack of empirical support for Hotelling's "r"-percent rule, introduced in 1931, and recent suggestions that...

A dynamic optimal control model describing the benefits and costs associated with the development of tropical forests rich in plant and animal species and folk knowledge is presented. The model is used as a framework to assess how various market and institutional incentives might influence both...

Royalty structure has been linked to deforestation through non-sustainable harvesting and high grading. Yet royalties are an important rent generation mechanism for governments. In this paper, a dynamic model of government policy choice is used to compare different royalty systems with respect...

Sustainability has several definitions within natural resource economics. Sustainable states may be economically or biologically determined. Age and age classes add complexity to any definition of forest sustainability. Here we focus on selected metrics that might be used to define forest...