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Title: Forest economics, natural disturbances and the new ecology
Author: Holmes, Thomas P.; Huggett, Robert J.; Pye, John M.
Source: The Economics of Forest Disturbances: Wildfire, Storms, and Invasive Species, 15-32
Description: The major thesis of this chapter is that the economic analysis of forest disturbances will be enhanced by linking economic and ecologic models. Although we only review a limited number of concepts drawn generally from mathematical and empirical ecology, the overarching theme we present is that ecological models of forest disturbance processes are complex and not particularly well-behaved from an economic perspective. We discover that standard concepts in the economists' tool kit, such as asymptotic equilibrium and convex production, may not adequately represent the dynamic behavior of forest disturbances. Consequently, other tools for economic analysis will be required.
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Holmes, Thomas P.; Huggett, Robert J.; Pye, John M. 2008. Forest economics, natural disturbances and the new ecology. The Economics of Forest Disturbances: Wildfire, Storms, and Invasive Species, 15-32
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