Excerpt from Timber Value, a Matter of Choice: A Study of How End Use Assumptions Affect Timber Values At a point in time, a timber buyer can have a range of values for a stand of timber depending on the number of alternative uses that he recognizes for the timber. A timber seller also can have a range of values, but his alternative uses are likely to be restricted to retaining the timber as an investment in growing stock or exchanging the timber for something else of value to him - money, for example. The seller's value could be based on his costs of production; however, once the decision is made to sell the timber, these costs are irrelevant since his decision assumes at least one potential buyer exists whose value is greater than the cost of production. The seller's value at a point in time is derived from the value-generating uses of the potential timber purchasers. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.