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Optimal Forest Management with Carbon Sequestration Credits and Endogenous Fire Risk

  • Adam J. Daigneault
  • Mario J. Miranda
  • Brent Sohngen

We use a stochastic dynamic profit maximization model to investigate the effects of forest carbon sequestration credits on optimal forest management practices for stands facing wildfire risk. Landowners that periodically thin a stand can increase growth rates and mitigate loss of timber and carbon stocks from wildfire. Results indicate that thinning and shortening rotations are cost-effective strategies to mitigate wildfire risk. Carbon prices cause landowners to delay both their thinning treatments and the final rotation age. Thinning and extending timber rotations are thus a viable climate-change mitigation option even when stands are susceptible to risks of fire.

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File URL: http://le.uwpress.org/cgi/reprint/86/1/155
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Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 86 (2010)
Issue (Month): 1 ()
Pages: 155-172

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Handle: RePEc:uwp:landec:v:86:y:2010:i:1:p:155-172
Contact details of provider: Web page: http://le.uwpress.org/

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