Journal of Forest Economics > Vol 16 > Issue 1

The effect of site quality on economically optimal stand management

Teruhiko Marutani, , marutani@kwansei.ac.jp
 
Suggested Citation
Teruhiko Marutani (2010), "The effect of site quality on economically optimal stand management", Journal of Forest Economics: Vol. 16: No. 1, pp 35-46. http://dx.doi.org/10.1016/j.jfe.2009.05.001

Published: 0/1/2010
© 0 2010 Teruhiko Marutani
 
Subjects
 
Keywords
JEL Codes:C61D21Q23
Even-aged standFaustmann formulaNatural resource management
 

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In this article:
Introduction
Model
Methods
Results
Discussion and conclusions

Abstract

This paper proposes a discrete-time type timber harvesting model for simultaneously determining (i) the optimal quantity of seedlings to be planted, (ii) the optimal quantities of timber harvested by thinnings, and (iii) the optimal rotation age. With the help of Microsoft Excel Solver, a generalized reduced gradient algorithm, numerical examples are developed to evaluate the impact of the variations in the quality level of a forest site on the optimal harvest strategy. It is shown that the level of optimal rotation age and optimal quantity of seedlings to be planted can individually exhibit non-monotonicity to the increase in site quality.

DOI:10.1016/j.jfe.2009.05.001