In January 2017, the Sören Wibe prize was awarded jointly to Michael Hoel, Bjart Holtsmark, and Katinka Holtsmark for their article, Faustmann and the Climate, Journal of Forest Economics, 2014, 20(2): 192-210.

Wibe AwardThe Sören Wibe Prize 2016 was awarded on January 19th, 2017, followed by an inspiring award presentation given by Dr. Bjart Holtsmark. The winning paper employs an adjusted Faustmann Rule developed by the authors to examine the relationship between forest management and the interaction and dynamics of the forests’ multiple carbon pools. Their conclusion is that if the social costs of carbon emissions are introduced to the system, the rotation period should become longer. Specifically, the study is carried out within a less restrictive theoretical framework, which helps fully understand the mechanism underlying the effect on the optimal rotation. The 2016 Prize Selection Committee praised the work for its excellent starting point for empirical work on alternative policy scenarios, both in terms of forest policy and climate policy in the motivation.

The Sören Wibe Prize was instituted in 2011 in memory of Professor Sören Wibe (1946-2010), the founder of journal of forest economics. The Prize is awarded every two years to an article that presents a significant contribution to the field of forest economics and was published in the journal during the last two years. The ceremony for the Sören Wibe Prize 2016 was presented by Runar Brännlund and Peichen Gong, editors-in-chief of the Journal of Forest Economics, Bengt Kriström, head of department of forest economics, and Ola Carlén, managing editor of the Journal of Forest Economics.

Photo, left to right: Peichen Gong, Bjart Holstmark, Åsa Löfström, Michael Hoel, Ola Carlén and Runar Brännlund.