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Playing with Fire: Endogenous Risk in Resource Management

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  • Jonathan Yoder

Abstract

Prescribed fire as a wildfire risk mitigation tool is receiving increasing attention in the United States after a century of emphasis on suppression. A dynamic economic model of prescribed fire use, precaution, and timing is developed and applied to three important policy issues: vegetation management on the wildland-urban interface; the effect of liability on vegetation management decisions; and the problem of heavy initial fuel loads after years of suppression and fuel accumulation. Numerical simulation results are presented as illustrations of the analytical model. Copyright 2004, Oxford University Press.

Suggested Citation

  • Jonathan Yoder, 2004. "Playing with Fire: Endogenous Risk in Resource Management," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(4), pages 933-948.
    • Handle: RePEc:oup:ajagec:v:86:y:2004:i:4:p:933-948
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    File URL: http://hdl.handle.net/10.1111/j.0002-9092.2004.00644.x
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    Cited by:

    1. Christian Langpap & JunJie Wu, 2021. "Preemptive Incentives and Liability Rules for Wildfire Risk Management," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(5), pages 1783-1801, October.
    2. Goodnow, Robert & Sullivan, Jay & Amacher, Gregory S., 2008. "Ice damage and forest stand management," Journal of Forest Economics, Elsevier, vol. 14(4), pages 268-288, November.
    3. Jonathan Yoder & Marian Lankoande, 2005. "Firefights and Fuel Management: A Nested Rotation Model for Wildfire Risk Mitigation," Working Papers 2005-7, School of Economic Sciences, Washington State University.
    4. Lankoande, Mariam D. & Yoder, Jonathan K., 2005. "Firefights and Fuel Management: A Nested Rotation Model for Wildfire Risk Mitigation," Working Papers 12959, Washington State University, School of Economic Sciences.
    5. Masashi Konoshima & Claire A. Montgomery & Heidi J. Albers & Jeffrey L. Arthur, 2008. "Spatial-Endogenous Fire Risk and Efficient Fuel Management and Timber Harvest," Land Economics, University of Wisconsin Press, vol. 84(3), pages 449-468.
    6. Gwenlyn M. Busby & Heidi J. Albers & Claire A. Montgomery, 2012. "Wildfire Risk Management in a Landscape with Fragmented Ownership and Spatial Interactions," Land Economics, University of Wisconsin Press, vol. 88(3), pages 496-517.
    7. Patto, João V. & Rosa, Renato, 2022. "Adapting to frequent fires: Optimal forest management revisited," Journal of Environmental Economics and Management, Elsevier, vol. 111(C).
    8. Salant, Stephen W. & Yu, Xueying, 2013. "The Effect of Stochastic Oscillations in Property Rights Regimes on Forest Output in China," RFF Working Paper Series dp-13-08, Resources for the Future.
    9. Christopher Khawand, 2015. "Air Quality, Mortality, and Perinatal Health: Causal Evidence from Wildfires," 2015 Papers pkh318, Job Market Papers.
    10. Sims, Charles & Aadland, David & Finnoff, David, 2010. "A dynamic bioeconomic analysis of mountain pine beetle epidemics," Journal of Economic Dynamics and Control, Elsevier, vol. 34(12), pages 2407-2419, December.
    11. Matthew J. Wibbenmeyer & Michael S. Hand & David E. Calkin & Tyron J. Venn & Matthew P. Thompson, 2013. "Risk Preferences in Strategic Wildfire Decision Making: A Choice Experiment with U.S. Wildfire Managers," Risk Analysis, John Wiley & Sons, vol. 33(6), pages 1021-1037, June.
    12. Xu, Ying & Amacher, Gregory S. & Sullivan, Jay, 2016. "Optimal forest management with sequential disturbances," Journal of Forest Economics, Elsevier, vol. 24(C), pages 106-122.
    13. Salant, Stephen W. & Yu, Xueying, 2016. "Forest loss, monetary compensation, and delayed re-planting: The effects of unpredictable land tenure in China," Journal of Environmental Economics and Management, Elsevier, vol. 78(C), pages 49-66.
    14. Michael S. Hand & Matthew J. Wibbenmeyer & David E. Calkin & Matthew P. Thompson, 2015. "Risk Preferences, Probability Weighting, and Strategy Tradeoffs in Wildfire Management," Risk Analysis, John Wiley & Sons, vol. 35(10), pages 1876-1891, October.
    15. Marielle Brunette & Sylvain Caurla, 2016. "An Economic Comparison of Risk Handling Measures against Hylobius abietis and Heterobasidion annosum in the Landes de Gascogne Forest," Post-Print hal-01350832, HAL.
    16. Ning, Zhuo & Sun, Changyou, 2017. "Forest management with wildfire risk, prescribed burning and diverse carbon policies," Forest Policy and Economics, Elsevier, vol. 75(C), pages 95-102.
    17. Adam J. Daigneault & Mario J. Miranda & Brent Sohngen, 2010. "Optimal Forest Management with Carbon Sequestration Credits and Endogenous Fire Risk," Land Economics, University of Wisconsin Press, vol. 86(1), pages 155-172.
    18. Insley, Margaret & Lei, Manle, 2007. "Hedges and Trees: Incorporating Fire Risk into Optimal Decisions in Forestry Using a No-Arbitrage Approach," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 32(3), pages 1-23, December.
    19. Thomas W. McDaniel & Carissa L. Wonkka & Morgan L. Treadwell & Urs P. Kreuter, 2021. "Factors Influencing County Commissioners’ Decisions about Burn Bans in the Southern Plains, USA," Land, MDPI, vol. 10(7), pages 1-13, June.
    20. Couture, Stéphane & Reynaud, Arnaud, 2011. "Forest management under fire risk when forest carbon sequestration has value," Ecological Economics, Elsevier, vol. 70(11), pages 2002-2011, September.
    21. Eliott, Martyn G. & Venn, Tyron J. & Lewis, Tom & Farrar, Michael & Srivastava, Sanjeev K., 2021. "A prescribed fire cost model for public lands in south-east Queensland," Forest Policy and Economics, Elsevier, vol. 132(C).

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