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An economic analysis of double-cohort forest resources

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  • Halbritter, Andreas

Abstract

Under increasing economic pressure the use of natural regeneration is steadily gaining importance in the forest sector. Double-cohort stand systems, such as seed-trees, shelterwood and many two-aged variations supporting natural seeding, are common silvicutural practices. This paper presents a unified economic approach integrating the most common management alternatives of a double-cohort forest resource in one generalized deterministic model. A three-dimensional problem is solved for regeneration age, overstory density and removal cut maximizing the land expectation value and analyzed in a comparative static analysis. The findings of the model analysis are discussed in a comparison with even- and uneven-aged management. In addition, the dynamic even-aged thinning problem is extended to two age-classes and solved.

Suggested Citation

  • Halbritter, Andreas, 2015. "An economic analysis of double-cohort forest resources," Journal of Forest Economics, Elsevier, vol. 21(1), pages 14-31.
    • Handle: RePEc:eee:foreco:v:21:y:2015:i:1:p:14-31
    DOI: 10.1016/j.jfe.2014.11.001
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    References listed on IDEAS

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    1. Gregory S. Amacher & Markku Ollikainen & Erkki A. Koskela, 2009. "Economics of Forest Resources," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012480, December.
    2. 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.
    3. Chang, Sun Joseph & Gadow, Klaus V., 2010. "Application of the generalized Faustmann model to uneven-aged forest management," Journal of Forest Economics, Elsevier, vol. 16(4), pages 313-325, December.
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    Cited by:

    1. Chang, Sun Joseph, 2020. "Twenty one years after the publication of the generalized Faustmann formula," Forest Policy and Economics, Elsevier, vol. 118(C).
    2. Khan, M. Ali, 2016. "On a forest as a commodity and on commodification in the discipline of forestry," Forest Policy and Economics, Elsevier, vol. 72(C), pages 7-17.

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    Keywords

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    JEL classification:

    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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