Journal of Forest Economics > Vol 21 > Issue 1

An economic analysis of double-cohort forest resources

Andreas Halbritter, , andreas.halbritter@forst.tu-dresden.de
 
Suggested Citation
Andreas Halbritter (2015), "An economic analysis of double-cohort forest resources", Journal of Forest Economics: Vol. 21: No. 1, pp 14-31. http://dx.doi.org/10.1016/j.jfe.2014.11.001

Published: 0/1/2015
© 0 2015 Andreas Halbritter
 
Subjects
 
Keywords
JEL Codes:Q230Q560
Uneven-aged forest managementDouble-cohort resourceGeneralized Faustmann modelShelterwoodSeed-tree methodGrowth competitionNatural regeneration
 

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In this article:
Introduction
Model
Optimal management
Comparative static analysis
Dynamic model extension
Discussion
Conclusion

Abstract

Under increasing economic pressure the use of natural regeneration is steadily gaining importance in the forest sector. Double-cohort stand systems, such as seed-trees, shelterwood and many two-aged variations supporting natural seeding, are common silvicutural practices. This paper presents a unified economic approach integrating the most common management alternatives of a double-cohort forest resource in one generalized deterministic model. A three-dimensional problem is solved for regeneration age, overstory density and removal cut maximizing the land expectation value and analyzed in a comparative static analysis. The findings of the model analysis are discussed in a comparison with even- and uneven-aged management. In addition, the dynamic even-aged thinning problem is extended to two age-classes and solved.

DOI:10.1016/j.jfe.2014.11.001