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Article summary:
1. Stochastic dynamic programming is used to analyze optimal holding of primary tropical forest in Costa Rica when future nonuse benefits of conservation are uncertain and increasing.
2. The quasi-option value of maintaining primary forests is included as a component of investment in natural capital.
3. Rising trend in future benefits and compensation by the international community for beneficial spillovers are important factors in determining optimal holdings of forest stocks, but without compensatory payments, further deforestation may be warranted.
Article analysis:
The article is written by Erwin Bulte, Daan P. van Soest, G. Cornelis van Kooten, and Robert A. Schipper from Tilburg University and the University of Nevada, which provides some credibility to the article's claims. The authors have also provided citations for their sources which adds to the trustworthiness of the article.
However, there are some potential biases that should be noted when considering this article's trustworthiness and reliability. For example, the authors do not explore any counterarguments or present both sides equally when discussing deforestation and its potential impacts on Costa Rica's environment. Additionally, they do not provide any evidence for their claims regarding rising trends in future benefits or compensation from international communities for beneficial spillovers related to forest conservation efforts in Costa Rica.
Furthermore, it is possible that the authors have omitted certain points of consideration or risks associated with deforestation that could affect their conclusions about whether further deforestation may be warranted without compensatory payments from international communities for beneficial spillovers related to forest conservation efforts in Costa Rica.
In conclusion, while this article provides some useful insights into forest conservation efforts in Costa Rica when nonuse benefits are uncertain but rising, it should be read with caution due to potential biases and lack of evidence for certain claims made by the authors as well as missing points of consideration or risks associated with deforestation that could affect their conclusions about whether further deforestation may be warranted without compensatory payments from international communities for beneficial spillovers related to forest conservation efforts in Costa Rica.