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Optimal management of a flammable forest providing timber and carbon sequestration benefits: an Australian case study

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  • Spring, Daniel
  • Kennedy, John O.S.
  • Mac Nally, Ralph
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    Abstract

    In deciding to keep or fell a forest stand given its age, the risk of loss of timber through wildfire is an important consideration. If trees also have value from sequestration of carbon, another effect of fire is the unplanned loss of stored carbon. Factors affecting the decision to keep or fell trees, and how much to spend on fire protection, are investigated using stochastic dynamic programming, using carbon sequestration in stands of mountain ash in Victoria as a case study. The effect of treating sawlogs as a permanent carbon sink after harvesting is explored.

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    File URL: http://purl.umn.edu/118504
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    Bibliographic Info

    Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.

    Volume (Year): 49 (2005)
    Issue (Month): 3 (September)
    Pages:

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    Handle: RePEc:ags:aareaj:118504

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    Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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    Related research

    Keywords: Forest management; timber; carbon; dynamic; programming; Resource /Energy Economics and Policy;

    References

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    1. Creedy, J. & Wurzbacher, A.D., 2000. "The Economic Value of a Forested Catchment with Timber, Water and Carbon Sequestration Benefits," Department of Economics - Working Papers Series 753, The University of Melbourne.
    2. Cacho, Oscar J. & Hean, Robyn L. & Wise, Russell M., 2002. "Carbon-Accounting Methods and Reforestation Incentives," 2002 Conference (46th), February 13-15, 2002, Canberra 125067, Australian Agricultural and Resource Economics Society.
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    Cited by:
    1. David Cooley & Christopher Galik & Thomas Holmes & Carolyn Kousky & Roger Cooke, 2012. "Managing dependencies in forest offset projects: toward a more complete evaluation of reversal risk," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 17(1), pages 17-24, January.
    2. Asante, Patrick & Armstrong, Glen W. & Adamowicz, Wiktor L., 2011. "Carbon sequestration and the optimal forest harvest decision: A dynamic programming approach considering biomass and dead organic matter," Journal of Forest Economics, Elsevier, vol. 17(1), pages 3-17, January.

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