Cost sharing for pre-commercial thinning in southern pine plantations: Willingness to participate in Virginia's pine bark beetle prevention program
Forest management that reduces southern pine beetle (SPB) risk benefits not only the landowners, but all who draw benefits from southern pine forests, including other owners whose risk is reduced by landscape-wide efforts. One such practice is pre-commercial thinning (PCT) of pine stands, which may be unattractive to landowners due to substantial upfront costs and delayed or uncertain financial return. Because societal benefits are not fully realized by those who implement PCT, there may be a market externality whereby it is underprovided.