With the availability of new techniques to close wine bottles avoiding the risk of “corky” taste the tradition of closing wine bottles with cork stoppers is on the retreat. As a consequence the Mediterranean cork oak forests with their rich biodiversity are endangered since their cultivation...

This paper provides a theoretical framework to study the behavioral and welfare effects of forest conservation, which leads to a binding harvesting constraint for landowners. The economy is modeled as a three-stage game by the interaction of the government’s conservation policy, with...