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Market and welfare implications of the reservation price strategy for forest harvest decisions

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  • Gong, Peichen
  • Löfgren, Karl Gustaf

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  • Gong, Peichen & Löfgren, Karl Gustaf, 2007. "Market and welfare implications of the reservation price strategy for forest harvest decisions," Journal of Forest Economics, Elsevier, vol. 13(4), pages 217-243, November.
  • Handle: RePEc:eee:foreco:v:13:y:2007:i:4:p:217-243
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    References listed on IDEAS

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    1. Clarke, Harry R. & Reed, William J., 1989. "The tree-cutting problem in a stochastic environment : The case of age-dependent growth," Journal of Economic Dynamics and Control, Elsevier, vol. 13(4), pages 569-595, October.
    2. Courtland L. Washburn & Clark S. Binkley, 1993. "Informational Efficiency of Markets for Stumpage: Reply," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 239-242.
    3. Thomas A. Thomson, 1992. "Optimal Forest Rotation When Stumpage Prices Follow a Diffusion Process," Land Economics, University of Wisconsin Press, vol. 68(3), pages 329-342.
    4. Bruce McGough & Andrew J. Plantinga & Bill Provencher, 2004. "The Dynamic Behavior of Efficient Timber Prices," Land Economics, University of Wisconsin Press, vol. 80(1), pages 95-108.
    5. Lars Hultkrantz, 1993. "Informational Efficiency of Markets for Stumpage: Comment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 234-238.
    6. Courtland L. Washburn & Clark S. Binkley, 1990. "Informational Efficiency of Markets for Stumpage," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(2), pages 394-405.
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    Citations

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    Cited by:

    1. Rakotoarison, Hanitra & Loisel, Patrice, 2016. "The Faustmann model under storm risk and price uncertainty: A case study of European beech in Northwestern France," MPRA Paper 85114, University Library of Munich, Germany.
    2. Manley, Bruce & Niquidet, Kurt, 2017. "How does real option value compare with Faustmann value when log prices follow fractional Brownian motion?," Forest Policy and Economics, Elsevier, vol. 85(P1), pages 76-84.
    3. Andersson, Mats & Gong, Peichen, 2010. "Risk preferences, risk perceptions and timber harvest decisions -- An empirical study of nonindustrial private forest owners in northern Sweden," Forest Policy and Economics, Elsevier, vol. 12(5), pages 330-339, June.
    4. Susaeta, Andres & Gong, Peichen, 2019. "Economic viability of longleaf pine management in the Southeastern United States," Forest Policy and Economics, Elsevier, vol. 100(C), pages 14-23.
    5. Yunker, James A. & Melkumian, Alla A., 2010. "The effect of capital wealth on optimal diversification: Evidence from the Survey of Consumer Finances," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(1), pages 90-98, February.
    6. Chang, Sun Joseph & Deegen, Peter, 2011. "Pressler's indicator rate formula as a guide for forest management," Journal of Forest Economics, Elsevier, vol. 17(3), pages 258-266, August.
    7. Mats, Andersson & Gong, Peichen, 6. "Risk Preferences, Risk Perceptions and Timber Harvest Decisions – An Empirical Study of NIPF Owners in Northern Sweden," Scandinavian Forest Economics: Proceedings of the Biennial Meeting of the Scandinavian Society of Forest Economics, Scandinavian Society of Forest Economics, issue 42, April.
    8. Chang, Sun Joseph, 2020. "Twenty one years after the publication of the generalized Faustmann formula," Forest Policy and Economics, Elsevier, vol. 118(C).
    9. Manley, Bruce & Niquidet, Kurt, 2010. "What is the relevance of option pricing for forest valuation in New Zealand?," Forest Policy and Economics, Elsevier, vol. 12(4), pages 299-307, April.
    10. Guo, Jinggang & Gong, Peichen, 2017. "The potential and cost of increasing forest carbon sequestration in Sweden," Journal of Forest Economics, Elsevier, vol. 29(PB), pages 78-86.

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