Skip to main content

Determinants of the Prices of Bare Forestland and Premerchantable Timber Stands: A Spatial Hedonic Study

Buy Article:

$21.50 plus tax (Refund Policy)

In this study, we examine the determinants of market prices of bare forestland and premerchantable timber stands in Southwest Alabama and Southeast Mississippi. Applying a spatial hedonic pricing model to forestland sale data from 2001 to 2007, we find that road access, topography, land productivity, and population density are the main determinants of bare forestland prices, whereas land productivity, potential for higher and better uses, and age of plantation are determinants of premerchantable timber stand prices. In particular, the value of a premerchantable stand increases along with the age of plantation by $56 per acre per year and compared with a tract with only one use in timber production, an identified higher and better use makes its value increase by $736 per acre or 45%.
No Reference information available - sign in for access.
No Citation information available - sign in for access.
No Supplementary Data.
No Article Media
No Metrics

Keywords: bare forestland; hedonic pricing model; land valuation; premerchantable timber stand; spatial error model

Document Type: Research Article

Publication date: 2013-08-21

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
  • Submit a Paper
  • Membership Information
  • Author Guidelines
  • Podcasts
  • Ingenta Connect is not responsible for the content or availability of external websites
  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more