Few analysts have been able to estimate significant and positive elasticities of supply with respect to price for hardwood pulpwood, sawtimber, or logs.
The overarching goal of our research is to estimate a model that permits us to aggregate up from stands to regional supply, allowing stand-level variability in ownership, site characteristics, species make-up, and spatial market factors to influence supply behavior.
Timber inventories and supply decisions are affected by the market, and vice versa. We seek to understand how the landscape and the market interact to define a forested landscape and, ultimately, the inventory available for harvest.