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The Harvesting Decisions When a Standing Forest with Multiple Age-Classes Has Value

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  • Jussi Uusivuori
  • Jari Kuuluvainen
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    Abstract

    A solution is demonstrated to an infinite-horizon, discrete-time utility model describing the consumption and cutting behavior of a nonindustrial private landowner who is managing a multiple age-class forest and who values both consumption derived from harvesting the trees and amenity derived from the standing trees. A policy rule is derived to attain a normal forest from any initial age-class distribution. It is demonstrated that a noncyclical forest allowing a constant periodic harvest is typically not a normal forest. Therefore, an even-flow timber harvesting is not tied to the existence of a normal forest structure. Copyright 2005, Oxford University Press.

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    File URL: http://hdl.handle.net/10.1111/j.0002-9092.2005.00702.x
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    Bibliographic Info

    Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

    Volume (Year): 87 (2005)
    Issue (Month): 1 ()
    Pages: 61-76

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    Handle: RePEc:oup:ajagec:v:87:y:2005:i:1:p:61-76

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    Cited by:
    1. Angels Xabadia & Renan U. Goetz, 2008. "The Optimal Selective Logging Regime and the Faustmann Formula," Working Papers 353, Barcelona Graduate School of Economics.
    2. KHAZRI, Olfa & LASSERRE, Pierre, 2008. "Forest Management : Are Double or Mixed Rotations Desirable?," Cahiers de recherche 12-2008, Centre interuniversitaire de recherche en ├ęconomie quantitative, CIREQ.
    3. COUTURE Stephane & REYNAUD Arnaud, 2006. "Multi-stand Forest Management Under a Climatic Risk: Do time and Risk Preferences Matter?," LERNA Working Papers 06.17.210, LERNA, University of Toulouse.
    4. Jussi Lintunen & Jussi Uusivuori, 2014. "On The Economics of Forest Carbon: Renewable and Carbon Neutral But Not Emission Free," Working Papers 2014.13, Fondazione Eni Enrico Mattei.
    5. Favada, Ibrahim M. & Kuuluvainen, Jari & Uusivuori, Jussi, 2007. "Optimal timber stock in Finnish nonindustrial private forests," Forest Policy and Economics, Elsevier, vol. 9(5), pages 527-535, January.
    6. Khazri, Olfa & Lasserre, Pierre, 2011. "Forest management: Are double or mixed rotations preferable to clear cutting?," Resource and Energy Economics, Elsevier, vol. 33(1), pages 155-171, January.

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