The method introduced by Faustmmm and extended by Hartman is used for calculating present values of forestry assetts under various conditions and for determining the optimal rotation. The approach is not stochastic and very simple. The forest benefit contemplated additional to timber is the...

Books reviewed: Masahiko Aoki, Toward a Comparative Institutional Analysis. Cambridge Albert Breton, Gianluigi Galeotti, Pierre Salmon, Ronald Wintrobe (eds.), Political Extremism and Rationality Gerard Caprio, Patrick Honohan and Joseph E. Stiglitz (eds.), Financial Liberalization Richard N....