An Evaluation of Three Simplified Approaches to Modeling the Regional Demand for National Forest Stumpage

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Abstract:

Three simplified approaches to modeling the Regional demand for National Forest stumpage are evaluated. The first approach is to assume that the Regional demand curve for National Forest stumpage is horizontal. The second is to assume that the demand curve for National Forest stumpage has the same slope as the Regional demand curve for stumpage on all ownerships. The third is to assume that the elasticity of demand for National Forest stumpage is equal to the elasticity of demand for stumpage on all ownerships in a Region. The theoretical properties of each approach are compared to a model drawn from the principles of conventional economic theory of a Region's wood products and factor markets. An empirical example for the Douglas-fir subregion of the Pacific Northwest illustrates the price and quantity effects of each approach. The discussion is of value to economists and planners who must assess the demand for stumpage as a part of the planning process pursuant to the National Forest Management Act of 1976. Forest Sci. 29:3-12.

Keywords: National Forest supply; Supply; demand; demand curves

Document Type: Journal Article

Affiliations: Economists at the Pacific Northwest Forest and Range Experiment Station, Portland, or 97232

Publication date: March 1, 1983

More about this publication?
  • Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
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