This paper aims at building a theoretical framework to examine the impact of development pressure on private owner’s forest management practices, namely, on regeneration and conversion cut dates. As the rent for developed land is rising over time, our model creates the possibility of switching...

This paper has developed a model of a single forest owner operating with perfect foresight in a dynamic open-city environment that allows for switching between alternative competing land uses (forest and urban use) at some point in the future. The model also incorporates external values of an...

We study a two sector endogenous growth model with environmental quality with two goods and two factors of production, one clean and one dirty. Technological change creates clean or dirty innovations. We compare the laissez-faire equilibrium and the social optimum and study first- and...

This paper examines the implications of quasi-hyperbolic inter-temporal preferences to the Faustman model. The use of decreasing discount rates leads to dynamically inconsistent behavior. To solve this problem a two-stages optimization decision model is developed. The resulting actual cutting...

In this paper, we show that, when combining revealed (RP) and stated (SP) data, for marginal changes in quality of environmental goods, rationality implies consistency, as the consistency conditions coincide with a subset of the conditions for rationality

Forest literature uses both continuous and discrete time models to study forest management problems, and when carbon sequestration benefits are considered, the results obtained in both approaches are not always equivalent.This issue is relevant from a policy point of view if credits are to be...

We contribute to the stated preference literature by addressing scale usage heterogeneity regarding how individuals answer attitudinal questions capturing lack of trust in institutions and fairness issues. Using a latent class model, we conduct a contingent valuation study to elicit the...

This article develops a latent class model for estimating willingness-to-pay for public goods using simultaneously contingent valuation (CV) and attitudinal data capturing protest attitudes related to the lack of trust in public institutions providing those goods. A measure of the social cost...

We study signal-dependent experimentation in the presence of accumulation and show that the passive-learner's action surprisingly coincides with the experimentor's when the unknown term is the one determining the decay rate of the stock, while they differ when the parameter being learned is the...

In the current paper we examine the role of forest carbon sequestration benefits in optimal forest management. When carbon benefits are considered not only the forested area is relevant, but also the flow of carbon between land and the atmosphere through the carbon cycle. To account for all...