The Influence of Price Expectations on Forestry Decisions
Abstract:Real price trends in New Hampshire for 1964 to 1983 indicate much variation among species and products. Average annual changes in real stumpage price ranged from -3.0% for spruce/fir pulpwood to +5.6% for high-quality red oak sawtimber from 1964 to 1983. Optimum rotation ages and soil rent values vary significantly with different expectations of stumpage prices. For eastern white pine, a 2% upward trend in real stumpage price lengthens the rotation age by 13 years and almost quadruples soil rent over the amount with constant real prices. Failure to consider the dynamic nature of stumpage prices will lead to suboptimal forestry decisions. North J. Appl. For. 2:81-83, Sept. 1985.
Document Type: Journal Article
Affiliations: USDA Forest Service, Northeastern Forest Experiment Station, P.O. Box 968, Bington, VT 05402
Publication date: September 1, 1985
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- Each regional journal of applied forestry focuses on research, practice, and techniques targeted to foresters and allied professionals in specific regions of the United States and Canada. The Northern Journal of Applied Forestry covers northeastern, midwestern, and boreal forests in the United States and Canada.
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