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Forestry 2000 73(4):361-370; doi:10.1093/forestry/73.4.361
© 2000 by Institute of Chartered Foresters
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Valuing forest land under hazards to crop survival

G. Bright1 and C. Price1

1 Gwynedd, Wales

Forest crops face various hazards throughout their life, which are often not accounted for in formal valuation calculations. One technical problem is what value should be included for successor crops, when the time of replacement depends on the incidence of hazards, rather than on a planned rotation. Relatively simple algebraic manipulations make it possible to solve this problem, provided that a reasonable estimate of hazards through the crop's life can be made. The method can be adapted to any number of hazards, any profile of probability, and to circumstances where the crop replacement strategy depends on the fate of the initial crop.


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A. Rojo, U. Dieguez-Aranda, R. Rodriguez-Soalleiro, and K. Von Gadow
Modelling silvicultural and economic alternatives for Scots pine (Pinus sylvestris L.) plantations in north-western Spain
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