Forests are highly valuable resources providing both timber as well as many non-use values like habitat for various endangered and threatened species, carbon sequestration, and recreation, to name a few. Given that there are 765 million acres of forestland in the United States, almost 60% of which are privately owned,...
Natural resources play a crucial role in human society by providing both market value and non-market value. Effective management of these resources is necessary to achieve a balance between economic value and other non-market benefits. Econometric studies focusing on natural resource management help us understand the costs and benefits of...