Implications of recreation demand for forest expansion in Great Britain
Benson, J.F.
Implications of recreation demand for forest expansion in Great Britain - 1993 - Regional Studies 27(1) 1993, 29-39(11) .
The paper uses recent estimates for the value of non-priced recreation on the Forestry Commission estate to examine the implications for new forest investment in both financial and spatial terms. Using recreation as the sole additional criterion, the priority area for new planting should be lowland England. The addition of consumer surplus values from informal recreation could increase the internal rate of return above a test discount rate of 6% in some cases and produce positive net present values, in contrast to negative ones for timber production alone. (Journal abstracts)
DISCOUNT RATE
LEISURE
Implications of recreation demand for forest expansion in Great Britain - 1993 - Regional Studies 27(1) 1993, 29-39(11) .
The paper uses recent estimates for the value of non-priced recreation on the Forestry Commission estate to examine the implications for new forest investment in both financial and spatial terms. Using recreation as the sole additional criterion, the priority area for new planting should be lowland England. The addition of consumer surplus values from informal recreation could increase the internal rate of return above a test discount rate of 6% in some cases and produce positive net present values, in contrast to negative ones for timber production alone. (Journal abstracts)
DISCOUNT RATE
LEISURE