recreation economics treats spatial problems of varying dimensionality. Travel cost models, once fashionable but no longer so, take recreation sites as point destinations, ideally, located rationally in relation to population. One-dimensional problems, concerning extent of trails, have received...

Mainstream economists have begun voicing disquiet about how dicounting affects values ascribed to the distant future. It has been proposed that discount rates should decline through time. Some reasons for this (hyperbolic discounting by one individual, fair treatment of future generations,...

Similarly to financial risk in markets, physical risk (threat or hazard) has sometimes been treated by adding a premium to the discount rate used for the NPV calculations applied to forestry options. As it happens, a discount rate premium reflecting the rate of threat gives the correct rotation...

Stated preference surveys have been criticised for many biases and uncertainties, including whether the “product” valued is seen symbolically or as means to “moral satisfaction”. Recently, criticism has focused on their propensity to elicit consumer valuations, in a context where citizen...

The several different versions of continuous cover forestry provide different portfolios of market and non-market effects. The extra harvesting costs of group or shelterwood felling are likely to exceed any savings in regeneration costs. Better financial returns come from successive removal of...

Creating markets is becoming a popular way of treating forest products that were once routinely regarded as externalities. Following this philosophy, a certification premium might be regarded as a valuation of the environmental (and possibly social) benefits of growing timber sustainably and in...