The Decision Trees Method to Support the Choice of Economic Evaluation Procedure: The Case of Protection Forests

The adoption of nature-based solutions, such as forests, is playing an increasingly important role in risk analysis and related decision-making. However, decision-makers struggle to put a value on the services provided by these solutions, as there is no reference market, and are thus faced with several challenges, which relate to the choice of the best forest management program or the interventions needed to make a forest resistant and resilient to the expected negative impacts of ongoing climate change. In this article, we started with an exploratory analysis to identify the key factors in the choice of an economic method to build predictive models to support the choice in an evaluation of the forest protection service against natural hazards. The exploratory analysis showed that non-demand-based methods have a good degree of replicability and reliability and are cheaper, whereas stated preference methods can estimate the intangible component. Concerning predictive models, almost all ...