Estimating economic value of site quality for uncertain ecosystem service provision in Swedish forests
As in other ecosystems, provision of ecosystem services from forests is uncertain because of stochastic weather conditions. In general, society is risk-averse, which means that factors increasing or decreasing the uncertainty in ecosystem services add a source of cost or value to society, measurement of which is lacking in the literature. This article suggests a method for calculating the impact of site-specific ecological conditions in Swedish forests on the economic value of uncertain ecosystem services in terms of timber and carbon sequestration.