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Playing with Fire: Endogenous Risk in Resource Management
Author(s) -
Yoder Jonathan
Publication year - 2004
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.1111/j.0002-9092.2004.00644.x
Subject(s) - liability , vegetation (pathology) , risk management , environmental science , wildland–urban interface , wildfire suppression , environmental resource management , fire protection , resource (disambiguation) , business , environmental planning , natural resource economics , risk analysis (engineering) , computer science , economics , engineering , civil engineering , finance , medicine , computer network , pathology
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.