IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

The Economics of Private Forest Management: Unifying the Faustmann Model and Models of Nonindustrial Private Forest Management

Listed author(s):
  • Dave Dole
Registered author(s):

    The majority of forest land in the U.S. is owned by individuals and institutions that are not directly involved in the forest products industry. Much of this land is thought to be managed inefficiently, but the reasons for this are unclear. This article focusses on three possible factors: information and transactions costs; nonfinancial forest values; and liquidity constraints. Models for the reforestation and harvesting decisions are presented that incorporate these factors. These models use the Faustmann model to define the financial value of forest land, and borrow from previously developed models of nonindustrial private forest management to incorporate the other factors into the forest management decision. A wealth of data exists on nonindustrial private forest management, and discussion focusses in particular on models that are suitable for the study of existing data.

    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.

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    Paper provided by EconWPA in its series Others with number 9502001.

    in new window

    Date of creation: 21 Feb 1995
    Date of revision: 21 Feb 1995
    Handle: RePEc:wpa:wuwpot:9502001
    Contact details of provider: Web page:

    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.:

    in new window

    1. 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.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpot:9502001. 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: (EconWPA)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.