Principles and Policy in Forestry Economics
AbstractThis article attempts a market-oriented, neoclassical interpretation of the classical optimum-rotation problem in forestry economics. The resulting model permits a rigorous derivation of the competitive entrepreneur's cost and production functions for timber output. This derivation provides the foundation for comparative statics and for the construction of an industry model of timber output. A tax issue is then examined to illustrate the usefulness of the model for policy purposes. Analytical extensions to treat general-equilibrium problems in forestry are also noted.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal Bell Journal of Economics.
Volume (Year): 12 (1981)
Issue (Month): 1 (Spring)
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Web page: http://www.rje.org
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