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Solid Wood—Timber Assessment Market Model (TAMM)

  • Darius M. Adams
Part of the Managing Forest Ecosystems book series (MAFE, volume 14)

TAMM simulates behavior in the markets for solid wood products (lumber and wood-based panels) and sawtimber stumpage. TAMM is a spatial equilibrium model that projects market solutions one period at a time. Product demand is disaggregated into numerous end-use categories and recognizes contemporaneous price-based substitution between different classes of solid wood products. Product supply is derived from a restricted production function form to allow exogenous projection of product recovery factors. Capacity change over time is based on an accelerator approach adjusted for expected future returns. Sawtimber-stumpage supply relations derive from intertemporal profit and utility maximization objectives for industrial and nonindustrial private owners, respectively. Equilibrium solutions are found using a “net revenue maximization” approach constrained to meet conditions for a spatial equilibrium. A concluding literature review compares the TAMM structure with other approaches to modeling the solid wood sector.

Keywords

Solid Wood Forest Sector Supply Relation Supply Equation Timber Supply 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer 2007

Authors and Affiliations

  • Darius M. Adams
    • 1
  1. 1.Department of Forest ResourcesOregon State UniversityCorvallisUSA

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