This paper investigates the joint production of timber and biodiversity by non-industrial private forest owners using a micro-econometric household production model. The objective of the paper is to explain the relationships between harvest strategies, timber price and the observed diversity of...

The implementation of nature conservation policy in the EU is often based on contracts between public authorities and landowners. We model these contracts in the presence of adverse selection and moral hazard when the outcome is uncertain. The results show that agents, who have high probability...