In resource accounting, simple theoretical models built upon efficiency prices have been developed to capture changes in social welfare generated by natural resources. We examine whether changes in market stumpage prices, as proxies for efficiency prices, have actually reflected changes in the...

Because of the complexity of multiple use forest management problems, it is difficult to quantify the consequences of management activities and to identify good management plans without the use of mathematical models. On the other hand, such models usually cannot provide sufficiently precise...

In resource accounting, simple theoretical models built upon efficiency prices have been developed to capture changes in social welfare generated by natural resources. We examine whether changes in market stumpage prices, as proxies for efficiency prices, have actually reflected changes in the...