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Portfolio Management of Mixed-Species Forests

Author

Listed:
  • Marielle Brunette

    (LEF - Laboratoire d'Economie Forestière - INRA - Institut National de la Recherche Agronomique - AgroParisTech)

  • Arnaud A. Dragicevic

    (LEF - Laboratoire d'Economie Forestière - INRA - Institut National de la Recherche Agronomique - AgroParisTech)

  • Jonathan Lenglet

    (AgroParisTech)

  • Alexandra Niedzwiedz

    (LEF - Laboratoire d'Economie Forestière - INRA - Institut National de la Recherche Agronomique - AgroParisTech)

  • Vincent Badeau

    (EEF - Ecologie et Ecophysiologie Forestières [devient SILVA en 2018] - INRA - Institut National de la Recherche Agronomique - UL - Université de Lorraine)

  • Jean-Luc Dupouey

    (EEF - Ecologie et Ecophysiologie Forestières [devient SILVA en 2018] - INRA - Institut National de la Recherche Agronomique - UL - Université de Lorraine)

Abstract

We propose to test the portfolio selection theory on the historical data of tree species’ productivities obtained from the French National Forest Inventory (IFN). We determine the optimal timber productivity-vulnerability arrangements out of the combinations of tree species and map the optimal compositions per administrative department in France. We also estimate the survivals of optimal portfolios using the species’ probabilities of presence. Our results show that greater weights in the optimal portfolios correspond to higher probabilities of presence.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Marielle Brunette & Arnaud A. Dragicevic & Jonathan Lenglet & Alexandra Niedzwiedz & Vincent Badeau & Jean-Luc Dupouey, 2014. "Portfolio Management of Mixed-Species Forests," Post-Print hal-01628375, HAL.
    • Handle: RePEc:hal:journl:hal-01628375
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    Cited by:

    1. Dragicevic, Arnaud & Lobianco, Antonello & Leblois, Antoine, 2016. "Forest planning and productivity-risk trade-off through the Markowitz mean-variance model," Forest Policy and Economics, Elsevier, vol. 64(C), pages 25-34.
    2. Wildberg, Johannes & Möhring, Bernhard, 2019. "Empirical analysis of the economic effect of tree species diversity based on the results of a forest accountancy data network," Forest Policy and Economics, Elsevier, vol. 109(C).

    More about this item

    JEL classification:

    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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