On the Economic Value of Genetic Progress in Forestry
Abstract:This paper extends previous analyses of the economics of tree improvement by introducing a number of general theorems on the properties of the present value function as a function of biotechnological parameters. More specifically it is shown how the economic gains from the improvement can be given upper and lower bounds, which to a certain extent are expressable in entities known from current management practices. The general theorems are derived from a model of a present value maximizing forestry firm with an initial endowment consisting of trees in different age classes, which is facing a competitive environment. However, since certain types of improvements are more easily handled at the stand level, a special section is devoted to the economics of genetic progress at the stand level. The core results show that straightforward calculation methods often have theoretical support. An empirical application at the end of the paper also shows that the theory has practical implications. For. Sci. 34(3):708-723.
Document Type: Journal Article
Affiliations: Department of Economics, Swedish University of Agricultural Sciences, Umeå Sweden
Publication date: September 1, 1988
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- 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.
Forest Science is published bimonthly in February, April, June, August, October, and December.
2015 Impact Factor: 1.702
Ranking: 16 of 66 in forestry
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