The aim of this study was to explain both theoretically and empirically the formation of the unit price of a woodlot in the early 1980’s in Finland. The structure of the market in which woodlot transactions take place is described by analysing the volume of markets, the heterogeneity of the woodlots, institutional regulation of woodlot ownership and information concerning the market. The decision-making processes of both woodlot seller and buyer are examined using a theoretical model. Using a woodlot transaction sample for 1983 and 1984 woodlot unit price is explained empirically.
The PDF includes a summary in Finnish.