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Research article - Peer-reviewed, 2021

Swapping Forests to Preserve Valuable Sites: A Sketch of a Framework for Economic Evaluation

Johansson, Per-Olov; Kristrom, Bengt


In 2012 the Swedish Environmental Protection Agency was provided with 100,000 ha of productive forest land. The Agency swapped the land to obtain conservation-worthy forests, and these were turned into natural reserves. Conservation without reference to both benefits and cost typically results in inefficient solutions. In this paper we discuss how to select the forest stands to preserve in a cost-effective manner. We also discuss how to design a cost-benefit analysis of the swapping program. We provide several new results regarding the economics of preservation, when land swaps is a viable instrument.


Cost-effectiveness; cost-benefit analysis; forestry; conservation; uncertainty; risk aversion; nonuse values; key biotopes

Published in

Journal of Forest Economics
2021, volume: 36, number: 3, pages: 183-200

Authors' information

Johansson, Per-Olov
Stockholm School of Economics
Swedish University of Agricultural Sciences, Department of Forest Economics
Umeå University

UKÄ Subject classification

Forest Science

Publication Identifiers


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