Discussion Paper: König-Faustmannism: A Critique

Authors: Oderwald, Richard G.; Duerr, William A.

Source: Forest Science, Volume 36, Number 1, 1 March 1990 , pp. 169-174(6)

Publisher: Society of American Foresters

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Abstract:

The König-Faustmann form of marginal analysis derives a valid estimate of the financially optimal rotation for individual trees and other indivisible forest capital: forests whose age-class structure is not to be changed. For divisible capital, the applicable form of the marginal model derives a shorter rotation because it allows for interactions among forest compartments. For. Sci. 36(1):169-174.

Keywords: Gottlob König; Martin Faustmann; current net worth; financial maturity; land-expectation value; marginal revenue and cost; maximum net return; optimal timber rotation

Document Type: Discussion

Affiliations: Distinguished Professor at the State University of New York, Syracuse; more Recently Thomas M. Brooks Professor of Forestry, Forestry Department, VPI & SU

Publication date: March 1, 1990

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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.
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