Microeconomics review forestry and the free market the forest as capital - appendices inflation and forest investment analysis capital budgeting in forestry economics of forest land use and even-aged rotations - appendix optimal timber stocking forest taxation risk and the discount rate forest valuation and appraisal - appendix timber demand and supply the United States wood processing industry valuing non-market forest outputs multiple use forestry forestry and regional economic analysis forests in a world economy.
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Stier et al. (1997) studied this question.