Estimation du prix des bois sur pied en fonction des caractéristiques du lot : le cas du Hêtre en Lorraine avant les tempêtes de 1999

The Faustmann model under storm risk and price uncertainty: A case study of European beech in Northwestern France

“…As expected, the coefficients for diameter and quality were significant since these are the main characteristics that customers consider when buying wood products in France (Cavaignac et al, 2006;Heshmatol Vaezin et al, 2008;Pajot, 2006). The diameter coefficient was positive: for every 1-cm increase in diameter, price increased by 1.68 €/m3, all other variables being equal.…”

“…The sources of this considerable variation in timber price have already been identified: time and space (Mitlin, 1987;Valsta, 1994), variations in supply and demand (Caurla et al, 2010), climatic policies (Buongiorno et al, 2011;Lecocq et al, 2011) and wood quality and characteristics (Cavaignac et al, 2006;Heshmatol Vaezin et al, 2008). However, several researchers have examined the effects of price uncertainty within the framework of a forest economic model like Faustmann's.…”

A simple generalization of the Faustmann formula to tree level

“…Therefore, the functions expressing revenue generated and land occupied by each individual tree should integrate not only SD but also DBH, formulated as p(SD,DBH) and A(SD,DBH), respectively. If the costs of sales organization and tree marking are ignored, the function p(SD,DBH) corresponds to the price-size relationship for a standing single tree, estimated from the stumpage value of a stand, as specified by Mitlin (1987), Whiteman andWatt (1991), andHeshmatol Vaezin et al (2007). The formula for land occupied by trees, A(SD,DBH), is similar to that proposed by Heshmatol Vaezin (2006).…”

“…Although the TEV formula was obtained in an even-aged stand, it is logical to think of the TEV formula as a tree-growth formula (Bouchon 1991) that can be applied for each tree in any forest structure because it is based on a single tree. The difference is obviously in the growth form and the stumpage price of a tree in various forest structures (Heshmatol Vaezin 2006;Heshmatol Vaezin et al 2007). Because estimation of LEV is difficult, eq.…”