Essay: Resource Economics and Management

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¶ … Buongiono, J., Gilless, J. (2003). Decision Methods for Forest Resource Management. San Diego: Academic Press.

Modern sustainable forestry is also investigating other related issues of ecosystem management. To create and maintain the diversity of trees with a region (i.e. Hardwood and softwood), landowners leave several stands of both young and old growth within natural forest stands to enhance the biodiversity and health of the forest site. Normally clear-cutting results in the re-planting of tree seedlings, however some species (spruce, pine) overpower the growth of the hardwood trees. This minimizes the level of specie diversity among a timber stand. By allowing these older sections of stands to remain aids to the natural growth and development of hardwood species. Also, the wood debris, a remnant of old forest growth is essential to the survival of many forest species and also acts as a recycler of nutrients back into the soil. During forest harvesting it is not always necessary to remove all the wood from the lot. Rotten or older growth can be left to contribute to the nourishment of natural forests.

However, the complexity and manner in which ecosystems are tied together so inexorably requires that more modern techniques be used to understand, develop, and assist in prediction and conservation of forests. Quantitative analysis and forecasting of forest products began after World War II and the boom in wood needs for suburbia. This initial analysis was based, primarily, on prime time-series analysis. However, with technological advances in computing, considerable improvements have been made in the way we theoretically view, develop, and utilize statistical models of estimation. For example, we now use panel data in the analysis of demand for final products, as well as activity analysis and econometrics. Panel data refers to multi-dimensional data streams; for instance, observations on multiple phenomena observed over multiple time periods for the same issue; looking at forests over time and analyzing the same sets of data in a balanced manner. Activity analysis is a statistical measure of the types of activities in the system, how many resources are consumed, given, what the performance of the biome is, and how, through observation and tracking, our data set changes over time. Econometrics tends to… [END OF PREVIEW]

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