Forest planning and productivity-risk trade-off through the Markowitz mean-variance model
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- 作者：Arnaud Dragicevica ; b ; Antonello Lobiancoa ; antonello.lobianco@agroparistech.fr" class="auth_mail" title="E-mail the corresponding author ; Antoine Lebloisa
- 关键词：G17 ; Q2 ; Q54
- 刊名：Forest Policy and Economics
- 出版年：2016
- 出版时间：March 2016
- 年：2016
- 卷：64
- 期：Complete
- 页码：25-34
- 全文大小：1088 K
文摘
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We study the arbitration between productivity and risk in forest planning using a portfolio model.
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We compute the optimal tree species mix in 90 French Departments.
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We consider wood production, carbon sequestration and economic valorisation.
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Forest managers reveal a high risk aversion, that is they prefer low variance to productivity.
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Policy instruments that lower risk have great potential in increasing carbon sequestration rate.