Prescribed fire as a wildfire risk mitigation tool is receiving increasing attention in the United States after a century of emphasis on suppression. A dynamic economic model of prescribed fire use, precaution, and timing is developed and applied to three important policy issues: vegetation...

Wildfire is a natural phenomenon with substantial economic consequences, and its management is complex, dynamic, and rife with incentive problems. This article reviews the contribution of economics to our understanding of wildfire and highlights remaining knowledge gaps. We first summarize...