Approximately optimal forest rotation in a nonstationary environment

The problem of optimal forest rotation in a nonstationary environment can, general, not be solved analytically. Even qualitatively characterizing how the solution changes over time is only possible some special cases. In this paper, we consider an approximation true to problem. We derive approximate harvesting rule by solving sequence stationary problems that assume growth conditions at point will prevail indefinitely. Each such can using classic Faustmann rule. numerically compare solution, both terms and resulting expected profits, for wide range scenarios. find rules are very similar (mostly < 1 $\lt 1$ % difference) profit losses associated with following small (less than 0.3%).