The Optimal Selective Logging Regime and the Faustmann Formula
نویسندگان
چکیده
This study analyzes the optimal selective logging regime of a size-distributed forest where individual trees compete for scarce resources such as space, light, and nutrients. The decision problem of the forest manager is formulated as a distributed optimal control problem. The interpretation of the first-order conditions allows a generalization of the Faustmann formula. In an empirical part, this article numerically determines the optimal management regime of a size-structured forest and shows that the optimal selective logging regime is associated with a normal forest under a wider variety of situations than stated in the previous literature.
منابع مشابه
Economically optimal cutting cycle in a beech forest, Iranian Caspian Forests
The aim of this study was to determine the optimal cutting cycle in an uneven-aged beech forest in the North of Iran. First of all, a logistic growth model was determined for an uneven aged forest. Then, the stumpage price was predicted via an autoregressive model. The average stumpage price of beech was derived from actual timber, round wood, fire and pulpwood prices at road side minus the var...
متن کاملIncorporation of biodiversity conservation targets on the optimal management of a size-distributed forest
The selective-logging regime is one of the most important instruments to support the sustainable development of forests, and reinforce the multiple services that they provide, such as the maintenance of biodiversity. The consideration of some stand features like having a certain volume of dead wood and/or large trees may help to preserve and enhance biodiversity in forest ecosystems, but as a c...
متن کاملFaustmann in an uncertain policy environment
This paper deals with optimal forest rotation age and silvicultural investment under policy or regulatory uncertainty to which wasteful deforestation and lack of reforestation and afforestation efforts in the developing countries and loss of old growth forests and biodiversity in the developed countries are attributed. Incorporating a stochastic uncertainty factor into the familiar deterministi...
متن کاملOptimal Stochastic Pine Stands Harvest Rotation Policies
A new Faustmann optimal rotation harvesting stands’ problem under Brown geometric price and Logistic and Gompertz wood stock, diffusions is presented. The optimal cut policies for the stochastic Faustmann model and the single harvest rotation or Vicksell model are evaluated in the case of a Chilean Radiata pine forest company. The company cut policy validates the Vicksell model, its optimal cut...
متن کاملOptimal Forest Road Density Based on Skidding and Road Construction Costs in Iranian Caspian Forests
Information on the productivity, costs and applications of the logging system is a key component in the evaluation of management plans for the rehabilitation and utilization of Caspian forests. Skidding and road construction costs are expensive forest operations. Determining the optimum forest road network density is one of the most important factors in sustainable forest management. Logging me...
متن کامل