环境与自然资源经济学PPT2 Tietenberg_8e_ppt13_final.pptVIP

Chapter 13 Storable, Renewable Resources: Forests Introduction Chapter 13 covers forests, forest management and sustainable forestry. Efficient allocations of the forest resource are defined and examples of how economic incentives can be used to protect biodiversity are presented. The calculation of optimal rotations is presented. Timber values as well as biodiversity values of the forest are highlighted. The problem of deforestation and potential solutions are also emphasized. Objectives Discuss the biology of forest growth. Present the difference between the biological decision rule for forest management and the profit maximization rule. Illustrate the calculation of the present value of net benefits from timber harvesting. Discuss the sources of inefficiency in forest management. Discuss global externalities that encourage over harvesting. Present a history of U.S. forest policy. Present economic strategies for dealing with global inefficiencies Characterizing Forest Harvesting Decisions Special Attributes of the Timber Resource Timber is both an output and a capital good. The harvest decision involves how much timber to harvest, how often to harvest it and whether to replant after harvesting. Standing trees are a capital asset. Tree growth increases the harvestable volume and standing trees provide watershed protection and wildlife habitat. Forest managers will decide between harvesting today and waiting to harvest. The Biological Dimension Tree growth is measured on a volume basis. Young trees will grow tall quickly, but volume growth is slow. Medium aged trees increase in volume quite rapidly while mature trees grow very slowly and eventually stop growing or reverse growth. Growth will also be affected by weather, soil fertility, disease, forest fires, etc. FIGURE 13.1 Model of Tree Growth in a Stand of Douglas Fir The Economics of Forest Harvesting The optimal time to harvest from a profit maximization perspective would be the age that maximizes the