Author: Chang, Sun Joseph

Source: Forest Science, Volume 27, Number 4, 1 December 1981 , pp. 739-744(6)

Publisher: Society of American Foresters

Abstract:

This paper determines simultaneously the optimal growing stock and cutting cycle for an uneven-aged ponderosa pine stand by maximizing the forest value. The analysis shows that the maximization of forest value is the same as the maximization of land expectation value, thus presenting a unified approach to even-aged and uneven-aged management. The economic interpretations of reaching the optimal stocking and the optimal cutting cycle are then explained. The comparative static analyses demonstrate that the optimal growing stock and cutting cycle are sensitive to changes in interest rate, yet insensitive to changes in stumpage price. Forest Sci. 27:739-744.

Keywords: Forest value; land expectation value; comparative static analysis

Document Type: Journal article

Affiliations: 1: Assistant Professor, Department of Forestry, University of Kentucky, Lexington, KY 40546

Publication date: 1981-12-01

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