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  • 1
    ISSN: 1573-5095
    Keywords: public forest policy ; silvicultural funding ; tenure
    Source: Springer Online Journal Archives 1860-2000
    Topics: Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition
    Notes: Abstract When devising policies for financing private silvicultural operations on public forest land, government agencies should consider carefully the benefits and costs of alternative arrangements and how they arc likely to affect tenure holders' behavior. Three general methods of achieving silvicultural objectives arc discussed — the creation of incentives for private voluntary expenditures, reimbursement by governments of expenditures on approved or required silvicultural operations, and required silvicultural operations at the tenure holder's expense. Private firms will only invest voluntarily in silviculture on public lands if they have adequate security of tenure and hold sufficient equity in the timber values resulting from their activities. If firms' silvicultural costs arc reimbursed, their behavior will depend on the extent of reimbursement and whether they have a financial interest in the outcomes of their reimbursed activities. Generally, reimbursement of expenditures must be supported by minimum performance standards and costly monitoring and enforcement procedures. If silvicultural operations are required at the tenure holder's expense, firms will only undertake silviculture to avoid penalties and have a strong incentive to achieve required standards at minimum cost. More stringent monitoring and enforcement procedures may be necessary than if costs arc reimbursed. The impact of policy alternatives is illustrated by means of a survey of silvicultural expenditures on two forest tenure types in British Columbia.
    Type of Medium: Electronic Resource
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  • 2
    Electronic Resource
    Electronic Resource
    Springer
    Environmental and resource economics 3 (1993), S. 1-21 
    ISSN: 1573-1502
    Keywords: Time preferences ; interest rates ; inter generational equity ; inter temporal allocation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract Economists have long considered possible divergences between private and social rates of time preferences. In this paper, we investigate factors hypothesized to affect this potential divergence. Results indicate that time preferences of individuals may be influenced by: 1. whether the resource in question is publicly or privately managed (respondents tend to have lower rates of time prefernce for publicly managed resources); and 2. the type of good being managed (respondents tend to have lower rates of time preference for income derived from a forest than for income derived from a portfolio of stocks and bonds). Additional factors which may influence the revealed rate of time preference include the pattern of benefits derived over time and various personal characteristics of the respondent. Although numerous methodological problems cloud the issues, our results suggest that capital markets may fail to aggregate utility over individuals and between goods, and that it may therefore be appropriate for governments to consider using lower rates of discount than the private sector, and to vary the rate used according to the type of good being evaluated.
    Type of Medium: Electronic Resource
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