Quantifying Marketplace Characteristics for Use in Timber Stumpage Appraisal
Abstract:Regression-based models for predicting stumpage price have received attention in recent years for use in transactions evidence timber appraisal, forest planning, and valuation of timber inventories. These models usually use individual sale characteristics in conjunction with broad measures of product demand to explain variation in sale value. Local variation in markets due to mill capacity and concentration are either ignored, or separate models are generated for local market areas. The authors attempted to improve the specification of stumpage-price prediction models by incorporating new variables designed to reflect important aspects of local market conditions. This type of model has the potential to improve prediction of stumpage price and, in addition, to facilitate estimation of price impacts caused by changes in local mill capacity and concentration. West. J. Appl. For. 3(3): 66-69, July 1988.
Document Type: Journal Article
Affiliations: Washington State Department of Natural Resources, Olympia 98504
Publication date: 1988-07-01
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- Each regional journal of applied forestry focuses on research, practice, and techniques targeted to foresters and allied professionals in specific regions of the United States and Canada. The Western Journal of Applied Forestry covers the western United States, including Alaska, and western Canada; WJAF will also consider manuscripts reporting research in northern Mexico that has potential application in the southwestern United States.
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