کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
91974 159884 2013 5 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Interest rates in the German forest valuation literature of the early nineteenth century
موضوعات مرتبط
علوم زیستی و بیوفناوری علوم کشاورزی و بیولوژیک جنگلداری
پیش نمایش صفحه اول مقاله
Interest rates in the German forest valuation literature of the early nineteenth century
چکیده انگلیسی


• Several relatively unknown German authors valuated forest prior to Faustmann.
• Nineteenth century is a very lively period concerning choice of the interest rate.
• Already at that time publications showed a tendency towards lower interest rates.

Valuation with the help of the present value method can be traced back to at least medieval times. In forest literature the scientific achievement of calculating the present value of forestland is predominantly attributed to Martin Faustmann, whose 1849 publication is truly considered pioneering. However, without cheapening Faustmann's intellectual effort, this paper points to some earlier and relatively unknown German authors. By doing so, it presents the state of knowledge on forest valuation in the early nineteenth century, which is a very interesting and lively period of time with respect to the choice of the interest rate. It is revealed that already at that time publications on forest valuation showed a tendency towards an interest rate that yields a desired result.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Forest Policy and Economics - Volume 30, May 2013, Pages 1–5
نویسندگان
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