Economic Criteria and Calculated Risk in Reforestation Investment Decisions
Author: Teeguarden, Dennis E.
Source: Journal of Forestry, Volume 67, Number 1, 1 January 1969 , pp. 25-31(7)
Publisher: Society of American Foresters
Abstract:Use of economic criteria in making reforestation investment decisions is reviewed. Because of major long-term uncertainties, economic criteria define the problem but provide little operational help to land managers who wish to test the economic desirability of reforestation investments. However, economic criteria such as benefit-cost ratios may provide useful guides to efficient allocation of a fixed reforestation budget. Application of alternative rules for decision making when outcomes are uncertain is demonstrated and the expected value rule recommended for large scale reforestation programs.
Document Type: Journal article
Publication date: 1969-01-01
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