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A primary challenge for small forestry businesses is determining the value of forest investment opportunities. In this paper, we illustrate how small forest businesses can use real option analysis to exploit uncertainty in timber prices to determine the market value of forest licenses. In addition, we develop an option based valuation model that takes into account the economic trade-offs between short-term and long-term tenure arrangements when there is lumber price uncertainty. Hemantha Herath, John Jahera Jr.
Herath, Hemantha, Jahera, John; University of Northern British Columbia. 2003. Economic tradeoffs of timber tenures for small forestry businesses. Forest Investment Account (FIA) - Forest Science Program. Forest Investment Account Report. FIA2003MR289
Topic: FLNRORD Research Program
Keywords: Timber, Economic, Aspects, British, Columbia
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