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Effects of Supply and Demand Determinants on Pulpwood Stumpage Quantity and Price in Texas

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This paper presents a dynamic model of the Texas pine pulpwood stumpage market. The analysis incorporates profit maximization of the demand side with utility maximization on the supply side to analyze short-run market behavior. The model is estimated using a ridge regression form of three-stage least squares to redress the problems associated with degrading collinearity. Multipliers are then constructed to predict the short- and long-run equilibrium impacts of supply and demand determinants on pulpwood quantity and price. For. Sci. 38(3):652-660.
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Keywords: Market model; dynamic multipliers; ridge regression

Document Type: Journal Article

Affiliations: Graduate Research Assistant, Warnell School of Forest Resources, The University of Georgia, Athens

Publication date: 1992-08-01

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.
    Forest Science is published bimonthly in February, April, June, August, October, and December.

    2016 Impact Factor: 1.782 (Rank 17/64 in forestry)

    Average time from submission to first decision: 62.5 days*
    June 1, 2016 to Feb. 28, 2017

    Also published by SAF:
    Journal of Forestry
    Other SAF Publications
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