Lebanon's forest landscapes are unique in the Mediterranean region and, over the centuries, have provided multiple socioeconomic, cultural, and environmental benefits. However, societal changes have had a significant impact on these landscapes, putting them at risk of further degradation....

The objective of the paper is to analyze the risk management behavior of a non-industrial private forest owner under uncertainty about the timber production. Two types of hedging strategies with harvesting decisions are studied: a financial practice versus a physical one. We develop a two-period...