in hardware stores or with professional suppliers, You can buy a stuff called "Makulatur" in german, that is basically shredded paper with glue, it is mixed with water to the desired thickness, and usually used to undercoat walls before putting wallpapers on (egg cartons and similar packaging is made of it). If You mix it with plaster it gets very hard and stable.
alternatively You can use finely shredded paper from an office that does this, mixed with wallpaper glue. I sometimes use flatter portions of the cartonage wetted with water for instant moulding, for instance when I want the interior shape of something, a boat e.g.
the advantage is that it will not warp, but only shrink a bit and keep the intended shape.
fiberboard for bases is not a good idea, unless in small sizes
I understand MDF is a good option but others have given better advice on that matter