EconPapers    
Economics at your fingertips  
 

Estimates of willingness to accept compensation to manage pine stands for ecosystem services

Edward Mutandwa, Robert K. Grala and Daniel Petrolia ()

Forest Policy and Economics, 2019, vol. 102, issue C, 75-85

Abstract: Many ecosystem services are often overlooked in active management of private forests leading to their production below the levels preferred by the society. This study used the contingent valuation method (CVM) to estimate willingness to accept (WTA) compensation for managing a hypothetical tract of loblolly pine (Pinus taeda) for multiple ecosystem services. The CVM scenario involved four forest management alternatives representing increasing levels of forest management restrictions. A structural random effects probit model was constructed to quantify WTA compensation amounts. Mean WTA estimates ranged from $190.22 to $595.23 per hectare (ha) per year and increased with the intensity of forest management restrictions. Based on the WTA estimates, the total cost of increasing ecosystem production ranged from $0.88 to $4.76 billion per year. Increased budgets and private partnerships might be needed to implement forest management regimes facilitating multiple ecosystem services.

Keywords: Contingent valuation; Cost; Mail survey; Mississippi; Structural random effects probit model (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1389934118302685
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:forpol:v:102:y:2019:i:c:p:75-85

Access Statistics for this article

Forest Policy and Economics is currently edited by M. Krott

More articles in Forest Policy and Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-10-10
Handle: RePEc:eee:forpol:v:102:y:2019:i:c:p:75-85