An overview of non-wood valuation efforts in Ontario

Abstract

Recently, a number of efforts have been made to incorporate non-wood values as constraints in forest planning optimization models. In these models, the monetary value of management alternatives is maximized subject to the constraints specified. However, a complete revelation of underlying social preferences for un-priced values remains problematic. The value of un-priced (non-wood) outputs or services from forests is becoming an increasingly important component of management planning. This paper reviews the methods economists have developed to derive monetary estimates of these values. From a decision-making perspective, the primary goal of such efforts is for comparison of competing values. The paper also reviews all the un-priced valuation studies that have taken place in Ontario. -from Authors