Determinants of timber bid prices in Arkansas
2005
Dahal, P. | Mehmood, S.R.
A large number of private and public timber sales occur through competitive bidding. The price in such bids is likely to be affected by a variety of factors including site characteristics, seasonality, geographic region, contractual provisions, and ownership type. A timber bid price model was constructed for timber sales data collected from industrial, non-industrial private (NIP), and public timber sales in Arkansas. A regression model was estimated to establish functional relationships between winning bid prices per acre and a number of other variables. The model for the three ownership types was significant with an adjusted r2 of 0.68. Per-acre bid price in the model increased with increasing sawtimber volume, but decreased with increasing pulpwood volume. Timber sold by NIP and public owners received a lower bid price per acre compared to industrial private landowners. Various seasons and regional variables were found to have significant impacts on per-acre bid price. This study identified the determining factors for timber bid prices in Arkansas. This information will be useful to non-industrial forest landowners, forest industries, timber producers, and policy makers.
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