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- Info
The price for forest land on combined forest estates
| Author: |
Roos, Anders |
| Date: |
1995 |
| Periodical: |
Scandinavian Journal of Forest Resources |
| Abstract: |
Prices for forest estates, which also include agriculture land, a residence and outbuildings, were analyzed using a hedonic price model. Both productive and consumptive uses of the combined estates were considered. The statistical analysis was based on 198 sales in Sweden during 1992. The independent variables describe both physical characteristics and location. To allow straightforward interpretation of the coefficients, a linear specification with quadratic and interaction terms were chosen. The implicit price for forest land on combined forest estates was a positive function of population density, the percentage of productive forest land compared with the total forest area, site index, and standing volume per hectare of productive forest land. Forest land prices had negative relationships with the area of agricultural land, suggesting economies of scale in agriculture and not in forestry. |
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