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Determinants Of Non-Timber Value In Northern Hardwoods: A Framework For Forest Resource Accounting

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  • Scarpa, Riccardo
  • Buongiorno, Joseph
  • Hseu, Jiin-Shyang
  • Lee, Karen

Abstract

We propose a revealed-preference based definition of non-timber values and apply it to uneven-aged northern hardwoods in Wisconsin. Non-timber values so defined are found to be sizeable. Hedonic regressions reveal theoretically consistent signs and plausible magnitudes of determinants. Regional forest policy and natural resource accounting can both apply this concept.

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Bibliographic Info

Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 1998 Annual meeting, August 2-5, Salt Lake City, UT with number 20799.

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Date of creation: 1998
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Handle: RePEc:ags:aaea98:20799

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Keywords: Environmental Economics and Policy;

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  1. Ching-Rong Lin & Joseph Buongiorno, 1998. "Tree Diversity, Landscape Diversity, and Economics of Maple-Birch Forests: Implications of Markovian Models," Management Science, INFORMS, vol. 44(10), pages 1351-1366, October.
  2. Nancy E. Bockstael, 1996. "Modeling Economics and Ecology: The Importance of a Spatial Perspective," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(5), pages 1168-1180.
  3. Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, December.
  4. Hartwick, John M., 1990. "Natural resources, national accounting and economic depreciation," Journal of Public Economics, Elsevier, vol. 43(3), pages 291-304, December.
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