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NR Econ > Forests > Flashcards

Forests Flashcards

1
Q

What does a growth function look like for a stand of trees

A

s curve (quantity vs age)

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2
Q

what does a marginal growth function look like for a stand of trees

A

Downwards curve U (volume vs time)

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3
Q

optimal rotation pattern

A

finding the cut date for every rotation

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4
Q

does a bare piece of land that is going to be a forest have an opportunity cost

A

YES-
ag
plant forest

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5
Q

How to maximize sustained yield

A

the rotation length that maximizes the val of timer harvests forever

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6
Q

When is the max sustained yield

A

when the average harvest per year is the greatest

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7
Q

optimal forest rotation

A

the cut date that maximizes the present value of the accumulation of beenfits and costs of the forest

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8
Q

we should wait to harvest trees as long as

A

the valueof harvest today is more than the present value of harvest one year from today

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9
Q

when the marginal benefit of waiting equals the marginal cost of waiting

A

the forest will be cut

this is the optimal rotation cut date

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10
Q

know graphs for chapter 9

A
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11
Q

does the optimal harvest rotation increase or decrease with the introduction of an endangered species

A

increase in time

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12
Q

When on a graph is it apparent that it’s optimal to never cut a forest

A

marginal benefit of waiting doesn’t cross marginal cost of waiting

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13
Q

fig 1- what’s the optimal cut date if nothing changes

A

C

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14
Q

fig 1-what is line x

A

marginal cost of waiting

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15
Q

fig 1-what is line y

A

marginal benefit of waiting

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16
Q

fig 1-what is t*

A

the cut date for every time in the future

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17
Q

fig 1- where would the line be if something better for the land increased in value

A

A

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18
Q

fig 1- where would the line be if there was an endaggered species found on the land

A

B

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19
Q

fig 1- where would it be if it was never valuable to harvest

A

D

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20
Q

non timber values of a standing forest

A

habitat for animals
watershed protection
recreation
carbon sequestration

21
Q

what is fig 1

A

a model for optimal harvest rotation

22
Q

what would happen if the forest was a habitat for an endangered species

A

the optimal rotation length would increase

23
Q

fig 2 what is A

A

demand

24
Q

fig 2 what is B

A

marginal social cost (marginal private cost + marginal external cost)

25
Q

fig 2 what is C

A

marginal private cost (without the external cost)

26
Q

what happens when you recognize the non-timber value of a forest for the efficient level

A

it goes from qm to q*

27
Q

limiting harvests from public forest generates ____

A

rent

28
Q

how can a government forest service capture this rent

A

taxing each unit of timber harvested or by auctioning the rights of timber

29
Q

fig 2 what is the rent

A

P-intersection of q and s

area of this triangle

30
Q

can a periodically harvested stand sequester more carbon than a stand that is never harvested

A

yes

31
Q

ways to increase carbon srquestration in forests

A

reduce tropical deforestation
expand forests
increase forest density
increase production of long lived wood products

32
Q

what is meant by optimal rotation pattern for managing timber harvests on a aprcel of landz/

A

planting a forest, letting it grow, harvesting it, repeat indefinitly

optimal rotation pattern is the length of time we let each stand of trees grow before harvest. The harvest age of each stand is chosen to maximize the net present value of all future timber harvests

33
Q

fig 3 what is the optimal rotation age

A

t*

34
Q

fig 3 what is the marginal beenfit of waiting another year to harvest the timber

A

delta V- the additional revenue from one more years timber growth

35
Q

fig 3 what is the marginal cost of waiting

A

r[(V0-C)+S]

opportunity cost of not harvesting this year

36
Q

it is efficient to let the stand of timber grow _______________

A

as long as the marginal benefit of waiting to harvest is greater than the marginal cost

37
Q

what does fig 4 show

A

accumulated sequestered carbon on a forest

38
Q

fig 4 how is it possible that an increasing amount of carbon can be sequestered even if the forest is harvested periodically

A

as forests grow they absorb carbon in the biomass

when forest is cut, some sequestered carbon is released and some is stored in long lived wood products

new stand of trees grows and adds to the total sequestered carbon

cumulative amount of sequestered carbon increases with each rotation

39
Q

how is harvesting an old growth forest like exploiting a nonrenewable mineral resource?

A

not possible to regrow an old growth forest in an economically meaningful amount of time

40
Q

how is harvesting an old growth forest not like exploiting a nonrenewable mineral resource

A

forest generates beenfits in its natural state such as erosion control and wildlife habitat. Mineral resources don’t generate a benefit in the ground

If forests are cut down they can be used for another economic activity. If a mineral is mined, typically nothing can happen with that land

41
Q

fig 5 is a graph of the remaining stock of old growth forests in a country and the per hectare benefits of alternative uses of the land. how is the efficient number of hectares of old growth forests to preserve determined

A

q* because marginal benefit of remaining old growth is less than the benefit of harvest

42
Q

economic benefit of standing forests

A

global
-carbon sequestration
-biodiversity

Local
-recreation
-wildlife habitat
-erosion control
-tropica forests indigienous people

43
Q

causes of forest transitions

A

deforestation
reforestation
afforestation

44
Q

the per hectare beenfit of stnading old growth forests increases as the non timber values of the remaining old growth __________

A

increase

45
Q

why are the non-timber values of old growth timber typically not expressed in functioning markets

A

they are non-market calues that aren’t easy to calculate or capture

can’t calculate biodiversity

46
Q

TF non market values can lead to more or less efficient preservation of forests

A

less

47
Q

undervaluing the benefits from standing old growth forests can lead to higher or lower deforestation

A

higher

48
Q

what are the causes of illegal harvests of forest

A

flawed laws that leave room for interpretation- no inscentives for sustainable forest practices, unclear land use

lack of resources to enforce laws

insufficient data

corrupt govt

49
Q
A

NR Econ (3 decks)

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