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Notes: Estimating and Interpreting the Variation in the Local Demand for Stumpage

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This paper provides a technique for quantifying the precision and assessing the relative reliability of local demand relations that have been derived from estimates of demand and nonlocal supply for stumpage within a region. Evaluation of local demand relations for the ten National Forests in Montana indicated that the forests with the larger timber harvests were more reliable because they had the lower percent standard errors of local demand. The technique should be useful to those who must assess the effect on stumpage prices of changes in public and private timber programs. For. Sci 35(2):628-631.

Keywords: Statistics (resource); econometrics; economics (forestry business); supply/demand (forest products)

Document Type: Miscellaneous

Affiliations: Principal Economist, USDA Forest Service, Pacific Northwest Research Station, Portland, Oregon 97208

Publication date: June 1, 1989

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