Economic Analysis of A Tree Improvement Program for Western Larch
Abstract:An individual-tree simulation model called Prognosis and an economic subroutine called CHEAPO were used to determine financial rotation ages (in this analysis defined as the age at which net present value is maximized) for stands grown with genetically improved and unimproved western larch (Larix occidentalis) in north Idaho. Three hypothetical but reasonable growth functions were tested on two site classes. Sensitivity analyses showed that the tree improvement investment was likely to be profitable at 4 and 5 percent discount rates on excellent sites and at 4 percent on good sites. The analysis was most sensitive to changes in discount rate, site quality, and cone production rate. It was moderately sensitive to variation in time to seed production, number of productive orchard years, and differences among the assumed biological functions. As the hypothetical growth functions were designed to be conservative, economic gains are likely to be larger than those indicated in the analysis.
Document Type: Journal Article
Affiliations: Associate Professor of Forest Resources in the Same School
Publication date: 1984-11-01
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- 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.
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