This paper analyzes the effect of uncertainty in several key parameters on the marginal costs of carbon sequestration in forests. These parameters include the land supply elasticity, which governs the conversion of land from agriculture to forests and vice versa; parameters of the forest biomass...

The Kleines Land Use Model (KLUM), is a global agricultural landallocation model, developed as a tool to dynamically couple global state-of-the-art vegetation and economy models. The allocation process is based on profit maximisation, assuming risk aversion and decreasing returns to scales. The...