When is the Optimal Economic Rotation Longer than the Rotation of Maximum Sustained Yield?

Binkley CS (1985). When is the Optimal Economic Rotation Longer than the Rotation of Maximum Sustained Yield? IIASA Working Paper. IIASA, Laxenburg, Austria: WP-85-009

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Abstract

Contrary to the assertions of many, the rotation which maximizes the net present value of timber receipts may be longer than the rotation which maximizes average annual physical yield. This circumstance may arise even in a very simple economic model once regeneration costs are recognized. Along with a theoretical comparison of the two rotation criteria, an example using Pinus patula plantations in Tanzania demonstrates the potential practical importance of this conclusion.

Item Type: Monograph (IIASA Working Paper)
Research Programs: Forest Sector Program (FSP)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 01:56
Last Modified: 21 Jul 2016 14:11
URI: http://pure.iiasa.ac.at/2691

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