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Drought is a stress affecting forest growth and resulting in financial losses for forest owners and amenity losses for society. Due to climate change, such natural event will be more frequent and intense in the future. In this context, the objective of the paper is to compare, from an economical perspective, different forest adaptation strategies towards drought-induced risk of decline. For that purpose, we focus on a case study of a forest of beech in Burgundy and, we studied two adaptation options: density reduction and substitution by Douglas-fir. We also considered two levels of risks (intermediate and high), two climatic scenarii from IPCC (RCP 4.5 and RCP 8.5) and two types of loss (financial and in terms of carbon sequestration). We combine a forest growth simulator (CASTANEA) with a traditional forest economics approach (Fautsmann's LEV and Hartman's LEV). The results showed that adaptation provided the best economic return in most of the scenario considered. The results were discussed as regard to the importance of multidisciplinary approach (forest ecology and economics) and to the role of the multifonctionnality of forests.
