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A Comparison of Timber Market Models: Static Simulation and Optimal Control Approaches

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Abstract:

In this paper, we compare and contrast two types of timber models that have been used to analyze the market impacts of policy proposals or exogenous forces that affect timber markets. The framework and theory for static simulation and optimal control models are presented and discussed. We then compare single region, empirical versions of the models across six scenarios of exogenous economic shocks. The models are found to predict different outcomes for timber market behavior when demand changes, or when young timber is affected by a supply shock. Similar outcomes between the models are obtained when older timber stocks are affected by shocks, or when the exogenous forces impact timber markets gradually over time. For. Sci. 44(1):24-36.

Keywords: Forest sector models; optimal control; timber market

Document Type: Journal Article

Affiliations: Senior Fellow, Resources For the Future, 1616 P Street NW, Washington, DC 20036

Publication date: February 1, 1998

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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