IDEAS home Printed from https://ideas.repec.org/p/sfu/sfudps/dp16-09.html
   My bibliography  Save this paper

Multiple Use Values and Convergence of Optimal Harvesting Policies

Author

Abstract

Heaps (1995) developed a multiple use forestry maximum principle to describe the optimal harvesting of uneven aged forests when both wood values and nontimber values are considered. He identifies the optimal steady state age distributions (as normal forests) but was unable to show that optimal harvesting policies generate age class distributions that converge to such steady states. Now Heaps (2015) has a rigorous proof of this convergence result when only wood values are considered. This paper extends this proof to incorporate nontimber values as well. It also clariÖes the assumptions that need to be made to get the convergence result.

Suggested Citation

  • Terry Heaps, 2016. "Multiple Use Values and Convergence of Optimal Harvesting Policies," Discussion Papers dp16-09, Department of Economics, Simon Fraser University.
    • Handle: RePEc:sfu:sfudps:dp16-09
    as

    Download full text from publisher

    File URL: http://www.sfu.ca/repec-econ/sfu/sfudps/dp16-09.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Heaps, Terry, 2015. "Convergence of optimal harvesting policies to a normal forest," Journal of Economic Dynamics and Control, Elsevier, vol. 54(C), pages 74-85.
    2. Olli Tahvonen, 2004. "Optimal Harvesting Of Forest Age Classes: A Survey Of Some Recent Results," Mathematical Population Studies, Taylor & Francis Journals, vol. 11(3-4), pages 205-232.
    3. Heaps, Terry, 1984. "The forestry maximum principle," Journal of Economic Dynamics and Control, Elsevier, vol. 7(2), pages 131-151, May.
    4. 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.
    5. Jussi Uusivuori & Jari Kuuluvainen, 2005. "The Harvesting Decisions When a Standing Forest with Multiple Age-Classes Has Value," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(1), pages 61-76.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Couture, Stéphane & Reynaud, Arnaud, 2011. "Forest management under fire risk when forest carbon sequestration has value," Ecological Economics, Elsevier, vol. 70(11), pages 2002-2011, September.
    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. KHAZRI, Olfa & LASSERRE, Pierre, 2008. "Forest Management : Are Double or Mixed Rotations Desirable?," Cahiers de recherche 12-2008, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    4. Newman, D.H., 2002. "Forestry's golden rule and the development of the optimal forest rotation literature," Journal of Forest Economics, Elsevier, vol. 8(1), pages 5-27.
    5. Gardner Brown, 2000. "Renewable Natural Resource Management and Use Without Markets," Working Papers 0025, University of Washington, Department of Economics.
    6. Fabbri, Giorgio & Faggian, Silvia & Freni, Giuseppe, 2015. "On the Mitra–Wan forest management problem in continuous time," Journal of Economic Theory, Elsevier, vol. 157(C), pages 1001-1040.
    7. Terry Heaps, 2014. "Convergence of Optimal Harvesting Policies to a Normal Forest," Discussion Papers dp14-01, Department of Economics, Simon Fraser University.
    8. Sahashi, Yoshinao, 2002. "The convergence of optimal forestry control," Journal of Mathematical Economics, Elsevier, vol. 37(3), pages 179-214, May.
    9. Géraud Krähenbühl, 2015. "Supply Analysis of the Forestry Industry," IRENE Working Papers 15-08, IRENE Institute of Economic Research.
    10. Ken-Ichi Akao, 2011. "Optimum forest program when the carbon sequestration service of a forest has value," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 13(4), pages 323-343, December.
    11. Max Bruciamacchie & Marielle Brunette & Jacques-Alexandre Laye & Anne Stenger-Letheux & Arnaud Reynaud, 2008. "Instruments économiques pour une gestion optimale d’un peuplement forestier exploité par sa production ligneuse et son captage du gaz carbonique en situation risquée," Working Papers hal-01189362, HAL.
    12. Morag F. Macpherson & Adam Kleczkowski & John R. Healey & Nick Hanley, 2018. "The Effects of Disease on Optimal Forest Rotation: A Generalisable Analytical Framework," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 70(3), pages 565-588, July.
    13. Jette Bredahl Jacobsen & Frank Jensen & Bo Jellesmark Thorsen, 2018. "Forest Value and Optimal Rotations in Continuous Cover Forestry," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(4), pages 713-732, April.
    14. Viitala, Esa-Jussi, 2006. "An early contribution of Martin Faustmann to natural resource economics," Journal of Forest Economics, Elsevier, vol. 12(2), pages 131-144, June.
    15. González-González, José Mario & Vázquez-Méndez, Miguel Ernesto & Diéguez-Aranda, Ulises, 2022. "Multi-objective models for the forest harvest scheduling problem in a continuous-time framework," Forest Policy and Economics, Elsevier, vol. 136(C).
    16. Gardner M. Brown, 2000. "Renewable Natural Resource Management and Use without Markets," Journal of Economic Literature, American Economic Association, vol. 38(4), pages 875-914, December.
    17. Xabadia, Angels & Goetz, Renan U., 2010. "The optimal selective logging regime and the Faustmann formula," Journal of Forest Economics, Elsevier, vol. 16(1), pages 63-82, January.
    18. Sloggy, Matthew R. & Kling, David M. & Plantinga, Andrew J., 2020. "Measure twice, cut once: Optimal inventory and harvest under volume uncertainty and stochastic price dynamics," Journal of Environmental Economics and Management, Elsevier, vol. 103(C).
    19. Heaps, Terry, 2015. "Convergence of optimal harvesting policies to a normal forest," Journal of Economic Dynamics and Control, Elsevier, vol. 54(C), pages 74-85.
    20. 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.

    More about this item

    Keywords

    multiple use forestry; multiple age classes; optimal harvesting; convergence;
    All these keywords.

    JEL classification:

    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sfu:sfudps:dp16-09. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Working Paper Coordinator (email available below). General contact details of provider: https://edirc.repec.org/data/desfuca.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.