Twelve Unresolved Questions for Forest Economics – And Two Crucial Recommendations for Forest Policy Analysis

Authored by: William F. Hyde

Handbook of Forest Resource Economics

Print publication date:  April  2014
Online publication date:  April  2014

Print ISBN: 9780415623247
eBook ISBN: 9780203105290
Adobe ISBN: 9781136253294

10.4324/9780203105290.ch35

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Abstract

Faustmann showed us the basic economic formulation of the forestry problem 164 years ago. However, since then foresters and economists have learned of a number of situations in which Faustmann’s marvelous contribution is either incomplete, inaccurate or inappropriate. Our recent experience addresses some of those – but we do not have fully accepted answers for all of them. This chapter identifies issues that remain unresolved within the discipline of economics as applied to forestry at the beginning of the twenty-first century, and then adds two more crucial concerns for policy applications.

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