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Estimating Land Rent from the Market Value of Timberland

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Abstract:

Modeling empirical investment behavior of timber stand decision makers requires the use of market-generated information. Recent forestry literature has suggested that the available information on market valuations of timberland could be used to estimate empirical timberland rents as the opportunity cost. In this article we point out the fact that the market value of timberland comprises of the value of current market rent as well as values of speculated future market rents. We argue the importance of accounting for the values of speculated future rents, which could differ widely from the value of the current market rent.

Keywords: bare timberland value; speculated value; timberland rent

Document Type: Research Article

Publication date: 2008-10-01

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

    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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