Profit Criteria and Timber Management
Abstract:Economic studies in timber management often rank opportunities in terms of relative profitability which may help forest managers spend funds in an effective manner. Different profit criteria may be used. A case study was made to appraise the practical, as opposed to theoretical, importance of differences among profit criteria. Twenty-three timber management opportunities were ranked according to different criteria, including internal rate of return, contribution-to-present-net-worth and value-response-per-cost-dollar each at two different interest rates, and pay-out period used in two different ways. Practical differences among profit criteria were tested with opportunities that are mutually exclusive.
Document Type: Journal Article
Affiliations: Associate Professor of Forestry and Agricultural Economics, University of Wisconsin, Madison
Publication date: April 1, 1965
More about this publication?
- The Journal of Forestry is the most widely circulated scholarly forestry journal in the world. In print since 1902, the Journal has received several national awards for excellence. The mission of the Journal of Forestry is to advance the profession of forestry by keeping forest management professionals informed about significant developments and ideas in the many facets of forestry: economics, education and communication, entomology and pathology, fire, forest ecology, geospatial technologies, history, international forestry, measurements, policy, recreation, silviculture, social sciences, soils and hydrology, urban and community forestry, utilization and engineering, and wildlife management. The Journal is published bimonthly: January, March, May, July, September, and November.
2015 Impact Factor: 1.476
Ranking: 22 of 66 in forestry
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