Rethinking the economic analysis of forests: theory and practice

Rethinking the economic analysis of forests: theory and practice The principles for the economic analysis of forests presented by Godoy are reviewed here and are found to be flawed. A more satisfactory formulation of the neoclassical economic approach to the analysis of forest management options is presented. The ethical and distributional implications of this approach are criticised. Some theoretical and empirical problems faced by the neoclassical valuation methodology are also outlined. This paper argues for the adoption of a participatory land use planning (which may eventually employ the neoclassical valuation approach in a constrained fashion) to the distribution and allocation of forest resources. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Forest Ecology and Management Elsevier

Rethinking the economic analysis of forests: theory and practice

Forest Ecology and Management, Volume 73 (1) – May 1, 1995

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Publisher
Elsevier
Copyright
Copyright © 1995 Elsevier Ltd
ISSN
0378-1127
eISSN
1872-7042
DOI
10.1016/0378-1127(94)03481-B
Publisher site
See Article on Publisher Site

Abstract

The principles for the economic analysis of forests presented by Godoy are reviewed here and are found to be flawed. A more satisfactory formulation of the neoclassical economic approach to the analysis of forest management options is presented. The ethical and distributional implications of this approach are criticised. Some theoretical and empirical problems faced by the neoclassical valuation methodology are also outlined. This paper argues for the adoption of a participatory land use planning (which may eventually employ the neoclassical valuation approach in a constrained fashion) to the distribution and allocation of forest resources.

Journal

Forest Ecology and ManagementElsevier

Published: May 1, 1995

References

  • Natural capital and sustainable development
    Costanza, R.; Daly, H.E.
  • Economic implications of intergenerational equity for biodiversity conservation
    Tacconi, L.; Bennett, J.
  • Dethroning the internal rate of return: the evidence from irrigation projects
    Tiffen, M.
  • Industrial forestry
    Wong, T.M.

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