Valuing forest land under hazards to crop survival


Bright G., Price C.

FORESTRY, vol.73, no.4, pp.361-370, 2000 (SCI-Expanded) identifier identifier

  • Publication Type: Article / Article
  • Volume: 73 Issue: 4
  • Publication Date: 2000
  • Doi Number: 10.1093/forestry/73.4.361
  • Journal Name: FORESTRY
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus
  • Page Numbers: pp.361-370
  • Eskisehir Osmangazi University Affiliated: Yes

Abstract

Forest crops face various hazards throughout their life, which are often not accounted for in formal valuation calculations. One technical problem is what value should be included for successor crops, when the time of replacement depends on the incidence of hazards, rather than on a planned rotation. Relatively simple algebraic manipulations make it possible to solve this problem, provided that a reasonable estimate of hazards through the crop's life can be made. The method can be adapted to any number of hazards, any profile of probability, and to circumstances where the crop replacement strategy depends on the fate of the initial crop.