The Laboratory of Forestry economics (LEF) was created in 2000 as a joint research unit of the French Institute of Forestry, Agricultural and Environmental Engineering (ENGREF) and the National Institute of Agronomic research (INRA). The mission of the LEF is to conceive, develop, and transfer...

The Laboratory of Forestry economics (LEF) was created in 2000 as a joint research unit of the French Institute of Forestry, Agricultural and Environmental Engineering (ENGREF) and the National Institute of Agronomic research (INRA). The mission of the LEF is to conceive, develop, and transfer...

Using a stochastic dynamic programming model we analyze how French private forest owners make inter-temporal trade-offs between non-timber amenities and timber income. We explicitly take into account the price expectations and forest growth. In addition, unlike previous empirical studies...