Global interest in forest conservation, biodiversity preservation, and non-timber values has risen while pressures on the forest as a source of income and employment have also increased. These demands are often conflicting, making forest planning, allocation, and policy formation very complex. This volume explores theoretical and applied issues surrounding forest resource allocation. The book is divided into three sections: (1) Tropical Forests: Environment, Economics and Trade, (2) Non-Timber Valuation: Theory and Application, and (3) Ecosystem Management. The first section focuses on tropical forests, reflecting the fact that global environmental concerns surrounding these regions are often in conflict with local economic objectives. The chapters in this section examine mechanisms for capturing or optimizing total (timber and non-timber) economic value from tropical forests and the implications of forest policy on global trade in forest products and production from tropical forest regions. The second section examines non-timber values. These values, particularly existence or passive use values, are important in planning and policy decisions. However, these non-timber valuation techniques are also very controversial. This section examines theoretical advances in non-timber valuation and presents case studies employing state of the art techniques. The third section considers ecosystem management, a concept that promotes the use of forest harvesting practices that mimic natural disturbance patterns. The impact of ecosystem management on timber and non-timber values is largely unknown. The chapters in this section explore these issues from theoretical and applied perspectives. Overall, the book will be of interest to readers in forestry and environmental economics.