The economic value of a forested catchment with timber, water and carbon sequestration benefits
This paper examines the optimal management strategy for a forested catchment that yields timber, water and carbon sequestration benefits. The Faustmann multiple rotation model is extended to allow for the maximisation of the net present value of these timber and non-timber benefits. The model is applied to the Thomson Catchment in Central Gippsland, Victoria. Carbon sequestration benefits are modelled via total stand biomass accumulation. The cost of carbon release back into the atmosphere upon logging is estimated as a function of rotation age using an adjusted pulpwood/sawlog ratio. The allowance for both non-timber benefits is found to lengthen the optimal rotation, in a large range of cases to infinity.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kadekodi, Gopal K. & Ravindranath, N. H., 1997. "Macro-economic analysis of forestry options on carbon sequestration in India," Ecological Economics, Elsevier, vol. 23(3), pages 201-223, December.
- Hartman, Richard, 1976. "The Harvesting Decision When a Standing Forest Has Value," Economic Inquiry, Western Economic Association International, vol. 14(1), pages 52-58, March.
- S Fankhauser & R S J Tol, 1999.
"Figuring the costs of climate change: a reply,"
Environment and Planning A,
Pion Ltd, London, vol. 31(3), pages 409-411, March.
- D Demeritt & D Rothman, 1999. "Figuring the Costs of Climate Change: An Assessment and Critique," Environment and Planning A, , vol. 31(3), pages 389-408, March.
- G. Cornelis van Kooten & Clark S. Binkley & Gregg Delcourt, 1995. "Effect of Carbon Taxes and Subsidies on Optimal Forest Rotation Age and Supply of Carbon Services," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(2), pages 365-374.
- Roger Sedjo & Joe Wisniewski & Alaric Sample & John Kinsman, 1995. "The economics of managing carbon via forestry: Assessment of existing studies," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 6(2), pages 139-165, September.
- D Demeritt & D Rothman, 1999. "Figuring the costs of climate change: an assessment and critique," Environment and Planning A, Pion Ltd, London, vol. 31(3), pages 389-408, March.
- S. Rama Chandra Reddy & Colin Price, 1999. "Carbon Sequestration and Conservation of Tropical Forests Under Uncertainty," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(1), pages 17-35.
When requesting a correction, please mention this item's handle: RePEc:eee:ecolec:v:38:y:2001:i:1:p:71-83. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.