The paper focuses on forests management strategies for natural hazards of nonindustrial owners, in the case where the forest provides nontimber services. Nous introduisons un modèle de base à deux périodes où les propriétaires privés gèrent les risques naturels sur sa forêt grâce à l'accumulation d'économies sur son revenu individuel ou à l'adoption de pratiques sylvicoles. We show that : 1/ the harvesting rule, in the presence of amenity services and a random growth rate for forest, is smaller than the one predicted under the Faustmann' s rule ; 2/ savings and sylvicultural practices may be seen as perfectly substitutable tools for the management of natural hazards. À tout moment, notre analyse prédit que la règle de récolte présente une sensibilité spécifique aux effets de prix et/ou aux changements dans la distribution des risques naturels, en fonction de ce que les propriétaires forestiers optent pour la stratégie financière ou soustraient les pratiques sylvicoles.

The paper focuses on forests management strategies for natural hazards of non-industrial owners, in the case where the forest provides nontimber services. We introduce a basic two-period model where the private owner manages natural hazards on his forest thanks to the accumulation of savings on his individual income, or to the adoption of sylvicultural practices. We show that: 1/ the harvesting rule, in the presence of amenity services and a random growth rate for forest, is smaller than the one predicted under the Faustmann's rule; 2/ savings and sylvicultural practices may be seen as perfectly substitutable tools for the management of natural hazards. However, our analysis predicts that the harvesting rule displays a specific sensitivity to price effects and/or changes in the distribution of natural hazards, depending on whether forest owners opt for the financial strategy or undertake sylvicultural practices.

The paper focuses on forests management strategies for natural hazards of nonindustrial owners, in the case where the forest provides nontimber services. We introduce a basic two-period model where the private owner manages natural hazards on his forest thanks to the accumulation of savings on his individual income, or to the adoption of sylvicultural practices. We show that: 1/ the harvesting rule, in the presence of amenity services and a random growth rate for forest, is smaller than the one predicted under the Faustmann's rule; 2/ savings and sylvicultural practices may be seen as perfectly substitutable tools for the management of natural hazards. However, our analysis predicts that the harvesting rule displays a specific sensibility to price effects and/or changes in the distribution of natural hazards, depending on whether forest owners opt for the financial strategy or undertake sylvicultural practices.

The paper focuses on forests management strategies for natural hazards of nonindustrial owners, in the case where the forest provides nontimber services. We introduce a basic two-period model where the private owner manages natural hazards on his forest thanks to the accumulation of savings on his individual income, or to the adoption of sylvicultural practices. We show that: 1/ the harvesting rule, in the presence of amenity services and a random growth rate for forest, is smaller than the one predicted under the Faustmann's rule; 2/ savings and sylvicultural practices may be seen as perfectly substitutable tools for the management of natural hazards. However, our analysis predicts that the harvesting rule displays a specific sensibility to price effects and/or changes in the distribution of natural hazards, depending on whether forest owners opt for the financial strategy or undertake sylvicultural practices.

تركز الورقة على استراتيجيات إدارة الغابات للمخاطر الطبيعية للمالكين غير الصناعيين، في الحالة التي توفر فيها الغابة خدمات غير خشبية. نقدم نموذجًا أساسيًا من فترتين حيث يدير المالك الخاص المخاطر الطبيعية على غابته بفضل تراكم المدخرات على دخله الفردي، أو اعتماد ممارسات زراعة الحنجرة. نظهر أن: 1/قاعدة الحصاد، في وجود خدمات الراحة ومعدل نمو عشوائي للغابات، أصغر من تلك المتوقعة بموجب قاعدة فوستمان ؛ 2/يمكن النظر إلى الادخار والممارسات الزراعية على أنها أدوات بديلة تمامًا لإدارة المخاطر الطبيعية. ومع ذلك، يتنبأ تحليلنا بأن قاعدة الحصاد تظهر حساسية محددة لتأثيرات الأسعار و/أو التغيرات في توزيع المخاطر الطبيعية، اعتمادًا على ما إذا كان مالكو الغابات يختارون الاستراتيجية المالية أو يقومون بممارسات زراعية.