Pricing the social contract in the British Columbian forest sector
In this paper, we investigate the impact of various socioeconomic conditions on the value of timber tenures in the province of British Columbia. Two timber tenure models were created, one for short-term timber sale licenses and the other for longer term forest licenses. The short-term model revealed that timber sales that were awarded according to a combination of employment, revenue, and manufacturing criteria yielded $8.63/m3 less revenue than timber sales awarded based on revenue alone.