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Articles containing the keyword 'rational expectations'
Category : Article
article id 5273,
category
Article
(1986).
A theory of stumpage appraisal.
Silva Fennica
vol.
20
no.
3
article id 5273.
https://doi.org/10.14214/sf.a15452
Keywords:
silviculture;
growing stock;
stumpage prices;
forest economy;
stumpage longevity;
bilateral monopoly;
rational expectations
Abstract |
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Author Info
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.
The PDF includes an abstract in Finnish.
-
Omwami,
E-mail:
ro@mm.unknown
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Silva Fennica ·
Finnish Society of Forest Science
