Optimal forest rotation with in situ preferences

Article Abstract:

A utility-based infinite horizon rotation model is introduced that includes nontimber values and the forest-owner's consumption-savings decision making. It is shown that the consumption rate is constant through time, thus it may be optimal to use a constant rotation period infinitely, if the subjective time preference of the forest owner is equivalent to the rate of interest. The findings indicate that, within a group of concave in situ valuation functions, the most advantageous solution yields converge leaning towards forests whose age structures have rising heterogeneity.

Economic aspects, Forests and forestry, Forests, Crop rotation

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A Finnish-Soviet acid rain game: noncooperative equilibria, cost efficiency, and sulfur agreements

Article Abstract:

The 50% agreement between Soviet Union and Finland on sulfur emissions that cause acid rain is analyzed through cost-effective solutions and noncooperative game solutions. Results indicate no incentive for cheating or for pursuing the target. Adding the variable of policy uncertainty, the worst case scenario involves the non-use of Russian resources for abatement thus leading to higher abatement costs. The agreement would then not be cost-effective. This problem is reduced if Estonia enters the picture by posting lower target deposition levels than the Soviet Union.

Finland, Environmental aspects, Environmental policy, Air pollution, Sulfur, Soviet Union

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Economic growth, pollution, and renewable resources

Article Abstract:

A neoclassical growth model is used to examine the long-run effects of pollution and natural resource scarcity. Renewable resources are considered in this economic growth model, as well as the relationship between pollution and renewable resources. Results indicate that the net effects of pollution control on economic growth can be assessed if the impact of pollution on renewable resources is considered in a general equilibrium model.

Analysis, Natural resources, Economic development, Pollution, Control, Alternative energy sources, Renewable energy

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