On the Economics of Timber Damage Appraisal for Public Forests
Abstract:Damage appraisal is the basis for fire-suppression decisions. Where timber is managed for production of maximum site rent, appraisal is a rather straightforward matter of applying standard financial criteria in a "with and without" procedure. Where the aim is maximum mean annual increment, as it often is on public forests, this procedure may yield seemingly incongruous results: if the goals and constraints guiding management allow prorating a loss by substituting one part of the inventory for another, the value of the damage may be less than the value of the specific resource in the absence of any damage. This is a consequence of maximizing wood rather than value. Ignoring "with and without" in public decisionmaking may result in overexpenditure for fire suppression.
Document Type: Journal Article
Affiliations: Economist with the Committee on the Budget, U.S. House of Representatives, in Washington, D.C.
Publication date: December 1, 1978
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- The Journal of Forestry is the most widely circulated scholarly forestry journal in the world. In print since 1902, the Journal has received several national awards for excellence. The mission of the Journal of Forestry is to advance the profession of forestry by keeping forest management professionals informed about significant developments and ideas in the many facets of forestry: economics, education and communication, entomology and pathology, fire, forest ecology, geospatial technologies, history, international forestry, measurements, policy, recreation, silviculture, social sciences, soils and hydrology, urban and community forestry, utilization and engineering, and wildlife management. The Journal is published bimonthly: January, March, May, July, September, and November.
2015 Impact Factor: 1.476
Ranking: 22 of 66 in forestry
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