Forest management under fire risk when forest carbon sequestration has value

Stéphane Couture () and Arnaud Reynaud
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Stéphane Couture: UBIA - Unité de Biométrie et Intelligence Artificielle (ancêtre de MIAT) - INRA - Institut National de la Recherche Agronomique
Arnaud Reynaud: LERNA - Economie des Ressources Naturelles - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - INRA - Institut National de la Recherche Agronomique - CEA - Commissariat à l'énergie atomique et aux énergies alternatives

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Abstract: We develop a multiple forest use model to determine the optimal harvest date for a forest stand producing both timber and carbon benefits under a risk of fire. An empirical application is provided for a forest owner producing maritime pine in Southwest of France. Our results indicate that a higher risk of fire will decrease the optimal rotation period. On the contrary, higher carbon prices increase the optimal harvesting age. To investigate the contradictory effects of fire risk and carbon price on forest rotation, we identify the set of carbon prices and fire risks that lead to a given rotation age. We also show that forest owner's willingness to pay for a risk reduction can be substantial (37.33 euros by ha and by year to reduce the annual fire risk from 1.26% to 0.07%).

Keywords: carbon sequestration; fire risk; climate change; stochastic dynamic programming; forest economics (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (28)

Published in Ecological Economics, 2011, 70 (11), pp.2002-2011. ⟨10.1016/j.ecolecon.2011.05.016⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02651317

DOI: 10.1016/j.ecolecon.2011.05.016

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