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The first part of this paper describes a general investment model for stand management. The objective of the model is to find the sequences of diameter-class harvesting rates and planting intensities that maximize the present value of an existing stand. Since the model includes the problems of converting the initial stand to plantation management and converting the stand to steady-state uneven-aged management as special cases, the model provides a unifying framework for comparing three measures of management system efficiency: forest value, land expectation value, and managed forest value. When maximum present value is the efficiency criterion, forest value, which measures the present value of conversion and steady-state management for both even-aged and uneven-aged systems, is the correct measure for evaluating the efficiency of these systems. Determining the most efficient system by comparing land expectation values is correct in a special case. Managed forest value measures the present value of steady-state management and should not be used to evaluate the efficiency of management systems that include both conversion and steady-state management policies. In the second part of the paper, the investment model is coupled with equations for recruitment, growth, and valuation developed for ponderosa pine (Pinus ponderosa Laws.) in Arizona to demonstrate that gradient techniques can be used to solve for optimal harvesting and planting regimes. The case study emphasizes that, in general, constrained management regimes that involve clearcutting and planting are suboptimal relative to the optimal solution to the more general investment model, which may involve selection harvesting and uneven-aged management. For. Sci. 33(1):116-134.
University of California, Division of Biological Control, 1050 San Pablo Ave., Albany, CA 94706
Publication date: March 1, 1987
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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.