Title: Information, Multifaceted Forest Ownership and Timber Supply
Citation: Forest Research: Open Access vol. 3 no. 4 p. 1000129
Publisher: OMICS Publishing Group
Publication Year: 2014
JRC N°: JRC91903
ISSN: 2168-9776
URI: http://omicsgroup.org/journals/information-multifaceted-forest-ownership-and-timber-supply-2168-9776.1000129.pdf
Type: Articles in periodicals and books
Abstract: Existing decision support systems (DSS) do not account for forest owner heterogeneity, nor do they explicitly model the reaction of forest owners to policy. Hence, current DSS are suitable for response analysis, but much less useful for policy impact assessment or forecasting. The current study presents a theoretical model of harvesting behavior which provides the basis for a simulation model, Expected Value Asymmetries (EVA), useful for analyzing how timber supply and forest characteristics are affected when forest owners differ as to responsiveness to information, risk aversion, and patience as regards postponement of harvesting revenues. The simulation results clearly indicate that the model is well adapted for considering forest owner heterogeneity when assessing the impact of policy on the inter-temporal development of forest resources and timber market conditions. Finally, it is outlined how EVA could integrate forest owner specific harvesting behavior in an augmented Decision Support System (DSS), thus addressing the inability of DSS operational at pan-European level to model the interaction between policy and forest management decisions.
JRC Directorate:Sustainable Resources

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