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How Joint is Joint Forest Production? An Econometric Analysis of Timber Supply Conditional on Endogenous Amenity Values

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Abstract:

In search of ways to enhance and sustain the flow of services from forests, policy makers in the public and private sectors look to forest sector models to project future forest uses. A major shortcoming of these models is a timber supply specification that inadequately accounts for suppliers choosing the structure of their forest capital to self-produce nontimber amenities. This inadequate characterization of resource use, if significant, can impede the development of sound forest policy, particularly in settings where forest owners possess diverse preferences for forest amenities. In this article, we develop and estimate a timber supply model that is consistent with the idea of joint self-production of timber and nontimber amenities, such that timber supply is a function of an endogenous distribution of forest inventory that correlates to ownership and management characteristics. Using data for the U.S. South and three-stage least squares procedures, we confirm that timber and nontimber amenities are jointly produced by private forest owners. We also note that owner and management characteristics influence joint production decisions. We believe that the parameters estimated through such an integrated empirical exercise could critically improve forest sector forecasting models and the related forest policy analyses. FOR. SCI. 48(3):479–491.

Keywords: Household production; environmental management; forest; forest management; forest resources; forest sector model; forestry; forestry research; forestry science; natural resource management; natural resources; three-stage least squares; utility theory

Document Type: Miscellaneous

Affiliations: 1: Senior Economist Research Triangle Institute, P.O. Box 12194 Research Triangle Park, NC, 27709, Phone: (919) 541-7355; Fax: (919) 541-6683 subrendu@rti.org 2: Senior Economist Research Triangle Institute, P.O. Box 12194 Research Triangle Park, NC, 27709, Phone: (919) 541-6468 bcm@rti.org 3: Professor North Carolina State University, Raleigh, NC, Phone: (919) 515-7791 bob_abt@ncsu.edu

Publication date: 2002-08-01

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.

    2015 Impact Factor: 1.702
    Ranking: 16 of 66 in forestry

    Also published by SAF:
    Journal of Forestry
    Other SAF Publications
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