Skip to Main content Skip to Navigation
Conference papers

Hedonic Prices for Timber Auctions with Endogenous Participation

Abstract : How much is the timber from public forests worth? How can the Public Forest Service define a fair market price for standing timber lots? To estimate the value of a timber lot we adopt the transaction-evidence appraisal approach using data from timber auctions in Lorraine (Eastern France) accounting for the facts that: (i) the seller’s reserve prices are secret, (ii) there remain many unsold lots, and (iii) the number of bidders varies from one auction to another. We estimate parameters of a sample selection model in which the hedonic equation includes an endogenous ordinal explanatory variable (the intensity of participation).
Document type :
Conference papers
Complete list of metadata

Cited literature [2 references]  Display  Hide  Download

https://hal.inrae.fr/hal-02822180
Contributor : Migration Prodinra Connect in order to contact the contributor
Submitted on : Saturday, June 6, 2020 - 8:06:48 PM
Last modification on : Monday, October 11, 2021 - 1:23:07 PM

File

30488_20090422023225450_1.pdf
Publisher files allowed on an open archive

Identifiers

  • HAL Id : hal-02822180, version 1
  • PRODINRA : 30488

Citation

Raphaële Préget, Patrick Waelbroeck. Hedonic Prices for Timber Auctions with Endogenous Participation. 25. Journées de Microéconomie Appliquée, May 2008, Saint-Denis (La Réunion), France. 39 p. ⟨hal-02822180⟩

Share

Metrics

Record views

20

Files downloads

32