We studied stochastic versions of the so-called rotation problem in forestry.

The Millennium Ecosystem Assessment is built on a conceptual framework that links biodiversity to the services ecosystems provide to society. Based on this framework, we first compile market and non-market forest valuation studies and, secondly, explore the potential of an econometric modeling...

This paper extends the overlapping generations model of the forest sector with the one-sided altruism to study the conditions under which monetary and/or timber bequests are operative. The paper departs from the general public finance literature by assuming nonindustrial landowners have...

This paper studies optimal forest policies in an overlapping generations forest economy with one-sided altruism and public goods, where timber and monetary bequests can be made across generations. We extend the existing economics literature by demonstrating that timber bequests can dominate...

This paper studies the impact of harvesting, property and profit taxes on private rotation age in an ongoing rotations model, where the private forest owner is interested not only in the present value of harvest revenue, but also in the amenity services provided by the forest stand.

The Hartman rotation framework augmented with an endogenous private and an exogenous adjacent forest stand is used to re-examine the optimal rotation age, when both stands may be spatially and temporally interdependent in the provision of amenity services.