Raymond K. Omwami

A theory of stumpage appraisal.

Omwami R. K. (1986). A theory of stumpage appraisal. Silva Fennica vol. 20 no. 3 article id 5273. https://doi.org/10.14214/sf.a15452

Abstract

This paper is a theoretical study of what is considered to constitute the proper perception of time in forest economics and management. A stumpage appraisal model that recognizes the influence of time is developed within the framework of a national aggregate economy. To demonstrate how a socially optimal land for timber production may be determined in a given nation, a stock-supply model is derived. The stumpage appraisal rule of development determines the market stumpage price that maintains a state of balance between timber production and other land use activities.

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Keywords
silviculture; growing stock; stumpage prices; forest economy; stumpage longevity; bilateral monopoly; rational expectations

Published in 1986

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Available at https://doi.org/10.14214/sf.a15452 | Download PDF