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| The present study is a cost-benefit analysis of
converting the current rotational forestry (RF) of Norway
spruce stand into near-natural forestry (NNF) of beech,
based on two representative soil conditions and visitors
popular case areas in Denmark, considering welfare economic
values of timber, recreation provision, and groundwater
recharge. The study answers the major research
question of how large the welfare economic values of
recreation and groundwater benefits of the conversion are
as compared with timber benefits. The net present values
(NPV) of the benefits were calculated for an infinite time
horizon at a 3 % discount rate. The results reveal that
converting into NNF would result in a NPV of at least
6,832 € ha-1 from use values of recreation and water
benefit on a site with good soil and a high visitor frequency,
as is typical in the eastern part of Denmark. On a
site in the west of the country, with poor growth conditions
and a lower visitor frequency, the gain is still substantial,
namely 5,581 € ha-1
. These benefits though come at a cost
of 3,375 and 6,206 € ha-1 from timber production,
respectively. This means that the economic value of use
values of recreation and water benefits outweighs the loss
of timber on good soil conditions but not on poor soil
conditions. | |
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