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A Comparison of Dynamic and Static Economic Models of Uneven-Aged Stand Management

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Numerical techniques have been used to compute the discrete-time sequence of residual diameter distributions that maximize the present net worth (PNW) of harvestable volume from an uneven-aged stand. Results contradicted optimal steady-state diameter distributions determined with static analysis. In this paper, optimality conditions for solutions to dynamic and static harvesting problems are established. Comparison of these conditions shows that for a stand with any diameter distribution: (1) the optimal transition regime does not converge to the steady state that maximizes land expectation value (LEV) using the Faustmann equation; (2) the PNW of the optimal transition and steady-state regime is greater than the PNW of the statically determined steady-state regime; and (3) the optimal steady-state regime is invariant. A refined version of a recently published dynamic optimization algorithm is provided and demonstrated with a whole-stand/diameter-class simulator for hardwood stands in Wisconsin. Optimal management regimes are computed for comparison with a static equilibrium management regime and for analysis of the effect of cutting-cycle length on harvest pattern and PNW. Forest Sci. 31:957-974.
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Keywords: Forest economics; gradient method; nonlinear programming; optimal harvesting

Document Type: Journal Article

Affiliations: S. V. Ciriacy-Wantrup Fellow, Department of Agricultural and Resource Economics, 207 Giannini Hall, University of California, Berkeley, CA 94720

Publication date: 1985-12-01

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    Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
    Forest Science is published bimonthly in February, April, June, August, October, and December.

    2016 Impact Factor: 1.782 (Rank 17/64 in forestry)

    Average time from submission to first decision: 62.5 days*
    June 1, 2016 to Feb. 28, 2017

    Also published by SAF:
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