Sustainability, Economics, and Natural Resources

Post-Faustmann Forest Resource Economics

Editors: Kant, Shashi (Ed.)

  • Offers a thorough critique of the dominant paradigm of forest economics – Faustmann Forest Economics
  • Proposes more advanced economic perspectives on forest resource economics, including sustainability, complexity, and human behavior
  • Applies cutting-edge experimental methods and systems approaches to forest resource economics
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eBook $119.00
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  • ISBN 978-94-007-5778-3
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  • Immediate eBook download after purchase
Hardcover $159.00
price for USA
  • ISBN 978-94-007-5777-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

The current paradigm of forest economics is based on Faustmann Formulation (FF) of land expectation value proposed by Martin Faustmann. It was a great achievement by a forester to propose a formulation that captures some fundamental economic features of capital theory which. However, the followers of the FF approach have trapped themselves into the past, and have not shown any indication of economic acumen of the great Faustmann. This has resulted in a common problem in the current paradigm of forest economics, known as Faustmann Forest Resource Economics (FFRE), to prescribe the application of a single (FF) approach to all situations irrespective of the specific features of the situation. The current state of forest economics is similar to that of neoclassical economics, and is full of inefficiencies. In neoclassical economics, inefficiencies are due to its “locked-in” position in rational economic man, while in forest economics inefficiencies are due to its “locked-in” position in the FF. The focus of this volume is on the new paradigm of forest economics termed as Post-Faustmann Forest Resource Economics (PFFRE). The first chapter lays the foundation of the PFFRE, and presents the key distinctions between the FFRE and the PFFRE. The volume includes twelve other chapters that address issues related to forest economics from perspectives different than the FFRE. Chapter 2 to 6 are focused on issues related to human behavior that is different than the rational economic man, Chapter 7 and 8 on public choice theory, Chapter 9 and 10 on systems approaches, and Chapter 11 to 13 on incremental approaches to incorporate new features in the FFRE.

Table of contents (13 chapters)

  • Post-Faustmann Forest Resource Economics

    Kant, Shashi

    Pages 1-19

  • Are Forest User Groups Rational Economic or Social Agents? Experimental Evidence from India

    Shahi, Chander (et al.)

    Pages 23-39

  • Complexity Theory and Forest Resource Economics

    Kijazi, Martin Herbert (et al.)

    Pages 41-70

  • Modeling Forest Sector Structural Evolution with the Experience-Weighted-Attraction-Learning (EWA-Lite) Algorithm

    Schwab, Olaf (et al.)

    Pages 71-90

  • Forest Management and Landowners’ Discount Rates in the Southern United States

    Atmadja, Stibniati S. (et al.)

    Pages 91-123

Buy this book

eBook $119.00
price for USA (gross)
  • ISBN 978-94-007-5778-3
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $159.00
price for USA
  • ISBN 978-94-007-5777-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Post-Faustmann Forest Resource Economics
Editors
  • Shashi Kant
Series Title
Sustainability, Economics, and Natural Resources
Series Volume
4
Copyright
2013
Publisher
Springer Netherlands
Copyright Holder
Springer Science+Business Media Dordrecht
eBook ISBN
978-94-007-5778-3
DOI
10.1007/978-94-007-5778-3
Hardcover ISBN
978-94-007-5777-6
Edition Number
1
Number of Pages
XVII, 293
Number of Illustrations and Tables
38 b/w illustrations, 18 illustrations in colour
Topics