André Mayer Research Fellowship
1994/95
FOREST VALUATION FOR DECISION MAKING
Lessons of experience and proposals for improvement
SEBASTIÃO KENGEN
Food and Agriculture Organization of the United Nations
Rome,
February 1997
The conclusions and recommendations presented here are those of the author and do not represent the official policy of the Food and Agriculture Organization. The designations employed and the presentation of the material in this document do not imply the expression of any opinion whatsoever on the part of the Food and Agriculture Organization of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries.
FOREWORD
ACKNOWLEDGEMENTS
INTRODUCTION
A. OriginsPART I: THE CONTEXT IN WHICH VALUATION DECISIONS ARE TAKEN
B. Overview and purpose
C. Audiences
D. Background
E. Organization
F. Summary guidelines for forest valuation
Chapter 1: DEFINING AND CLARIFYING THE DECISION5
1.1 General considerationsChapter 2: CLARIFYING THE PURPOSE OF THE VALUATION AND ITS CONTEXT AND OUTPUTS
1.2 The meaning of value and of valuation
1.3 Valuation is not a panacea
2.1 IntroductionPART II: THE VALUATION PROCESS
2.2 Forest attributes justifying full valuation
2.3 Does valuation give a full picture?
2.4 Whose values prevail if there are no absolute values?
2.5 Do high values mean anything and can they be captured?
2.6 The pursuit of Total Economic Value: can it succeed?
2.7 Considerations of usefulness and credibility of valuation
Chapter 3: IDENTIFYING AND DETERMINING INPUT AND OUTPUT INFORMATION NEEDS AND CONSTRAINTS TO MEETING THOSE NEEDS
3.1 General considerations
3.2 Where forests are competing with alternative land uses
3.3 Afforestation or reforestation
3.4 Establishment of protected areas
3.5 Watershed management
3.6 Final remarks
Chapter 4: CHOOSING AND APPLYING MEASURES OF VALUE AND TECHNIQUES TO MEET THE INFORMATION NEEDS
4.1 General considerationsChapter 5: DEALING WITH VALUE UNCERTAINTIES
4.2 Measures of value in forest valuation
4.3 Direct market price measures of value
4.4 Indirect (surrogate) market price measures
4.5 Non-market price valuation methods
5.1 General considerationsChapter 6: CONCLUSIONS AND FUTURE DIRECTIONS
5.2 Uncertainties
5.3 Strategies for coping with uncertainty
5.4. Final remarks
6.1 ConclusionsBIBLIOGRAPHY
6.2 Future directions
ANNEX 1 : THE VALUES, BENEFITS AND COSTS TO CONSIDER IN FOREST VALUATION
A1.1 General scheme of values, benefits and costsANNEX 2 - EXAMPLES OF RECENT ESTIMATES OF FOREST VALUES
A1.2 Valuation of marketed goods and services: the case of commercial timber stands
A1.4 Recreation values (non-consumptive direct use)
A1.5 Watershed values (indirect use value)
A1.6 Carbon sequestration values (indirect use value)
A1.7 Habitat protection and biological diversity (indirect use values)
A1.8 Option and existence values
A2.1 Example No. 1ANNEX 3: ESTIMATES OF ECONOMIC VALUES OF FOREST BENEFITS
A2.1 Example No. 2
A2.3 Example No. 3
A2.4 Example No. 4
A2.5 Example No. 5
A2.6 Example No. 6
A2.7 Example No. 7
Annex 2 REFERENCES
Annex 3 REFERENCES