Multiple-stand forest management under fire risk: Analytical characterization of stationary rotation ages and optimal carbon sequestration policy

Dumollard, Gaspard (2018). Multiple-stand forest management under fire risk: Analytical characterization of stationary rotation ages and optimal carbon sequestration policy Journal of Forest Economics, 32, pp. 146-154. Elsevier 10.1016/j.jfe.2018.06.002

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This paper focuses on the characterization of stationary states for a multiple-stand forest that is subject to forest fires and managed by a producer who has expected utility preferences. An analytical and tractable characterization of the stationary rotation age is established on the basis of Karush–Kuhn–Tucker conditions. The rotation age is shown to be unique and to depend on the risk probability but not on producer's risk preferences. A numerical application, using these analytical findings and based on the forestry of maritime pine in southwestern France is conducted. This numerical application consists in designing an optimal carbon sequestration policy based on financial incentives aiming at extending forest rotation ages. Results show that forest fire probability has a significant decreasing impact on sequestration costs.

Item Type:

Journal Article (Original Article)

Division/Institute:

School of Agricultural, Forest and Food Sciences HAFL > Multifunctional forest management

Name:

Dumollard, Gaspard

Subjects:

S Agriculture > SD Forestry

ISSN:

11046899

Publisher:

Elsevier

Language:

English

Submitter:

David Zimmer

Date Deposited:

03 Sep 2019 09:00

Last Modified:

03 Sep 2019 09:00

Publisher DOI:

10.1016/j.jfe.2018.06.002

Uncontrolled Keywords:

Multiple-stand forest management; Risk; Expected utility; Stationarity; Karush–Kuhn–Tucker conditions; Optimal sequestration policy; Landes forest

ARBOR DOI:

10.24451/arbor.8164

URI:

https://arbor.bfh.ch/id/eprint/8164

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