About a possibility to valuate non-wood benefits of Slovak forests by means of modified discounting
1996
Holecy, J. (Technicka Univ., Zvolen (Slovak Republic). Lesnicka Fakulta)
The paper compares two approaches to evaluation of projects of utilization of non-wood benefits provided by Slovak forests. The first procedure uses an ordinary discounting method and the criterion of the present value of expected future benefits. The second procedure lies in a modified discounting method that enables some shortcomings of ordinary discounting to be eliminated. Both procedures were tested on an example of a project evaluation that describes the stream of external benefits provided to a public by 1 ha of forests of the management type 611 (Abieto-fagetum piceosum). Results showed higher declarative ability than the nominal total value used so far as a criterion of non-wood benefits valuation
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