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Non‐timber Values and the Optimal Forest Rotation: An Application to the Southern Forest of Tasmania

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  • HARRY F. CAMPBELL
  • SARAH M. JENNINGS

Abstract

The present paper examines the optimal use of a site containing standing timber, taking account of both timber and non‐timber values. Using a site in the southern forest of Tasmania for illustrative purposes, it calculates the relationships between age of stand, extent of timber and non‐timber values and optimal cutting age. It finds that, for a stand with moderate potential environmental benefits, there is a period of its life during which it is optimal to log. This segment narrows, and eventually disappears, as potential environmental benefits increase.

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  • Harry F. Campbell & Sarah M. Jennings, 2004. "Non‐timber Values and the Optimal Forest Rotation: An Application to the Southern Forest of Tasmania," The Economic Record, The Economic Society of Australia, vol. 80(251), pages 387-393, December.
    • Handle: RePEc:bla:ecorec:v:80:y:2004:i:251:p:387-393
    DOI: 10.1111/j.1475-4932.2004.00196.x
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    References listed on IDEAS

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    1. Stephen K. Swallow & Piyali Talukdar & David N. Wear, 1997. "Spatial and Temporal Specialization in Forest Ecosystem Management Under Sole Ownership," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 311-326.
    2. Strang, William J, 1983. "On the Optimal Forest Harvesting Decision," Economic Inquiry, Western Economic Association International, vol. 21(4), pages 576-583, October.
    3. Hartman, Richard, 1976. "The Harvesting Decision When a Standing Forest Has Value," Economic Inquiry, Western Economic Association International, vol. 14(1), pages 52-58, March.
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    Cited by:

    1. Zhou, Mo, 2017. "Valuing environmental amenities through inverse optimization: Theory and case study," Journal of Environmental Economics and Management, Elsevier, vol. 83(C), pages 217-230.

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