Land allocation between a multiple-stand forest and agriculture under storm risk and recursive preferences
Fiche du document
2018
- handle: 10670/1.26k154
- hal: hal-01671595
- doi: 10.1080/21606544.2017.1409654
- PRODINRA: 415603
- WOS: 000439892300003
Ce document est lié à :
info:eu-repo/semantics/altIdentifier/doi/10.1080/21606544.2017.1409654
info:eu-repo/semantics/OpenAccess
Mots-clés
Land allocation Forest management Recursive preferences Stochastic Dynamic Programming Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q1 - Agriculture/Q.Q1.Q15 - Land Ownership and Tenure • Land Reform • Land Use • Irrigation • Agriculture and Environment Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q2 - Renewable Resources and Conservation/Q.Q2.Q23 - Forestry Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q2 - Renewable Resources and Conservation/Q.Q2.Q24 - Land Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q5 - Environmental Economics/Q.Q5.Q54 - Climate • Natural Disasters and Their Management • Global WarmingSujets proches
Land Land utilization Utilization of land Use of landCiter ce document
Gaspard Dumollard et al., « Land allocation between a multiple-stand forest and agriculture under storm risk and recursive preferences », HAL-SHS : économie et finance, ID : 10.1080/21606544.2017.1409654
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Résumé
This study aims to characterize steady-state land allocations between a multiple-stand forest and agriculture, when the forest is subject to a storm risk. The landowner is supposed to have recursive preferences, which permits to distinguish between in-tertemporal preferences and risk preferences. Using a stochastic dynamic programming model, we show that both land allocation and forest management depend on the risk and on both types of preferences at the steady-state. Risk aversion is shown to favor land allocation to agriculture and to reduce the forest average harvest age while the preference for a regular income is shown to favor forestry and to reduce the average harvest age.