You are here: Home
/ Publication Information
Title: A comparison of dynamic and static economic models of uneven-aged stand management
Author: Haight, Robert G.
Source: Forest Science 31(4):957-974
Publication Series: Journal/Magazine Article (JRNL)
Description: Numerical techniques have been used to compute the discrete-time sequence of residual diameter distributions that maximize the present net worth (PNW) of harvestable volume from an uneven-aged stand. Results contradicted optimal steady-state diameter distributions determined with static analysis. In this paper, optimality conditions for solutions to dynamic and static harvesting problems are established. Comparison of these conditions shows that for a stand with any diameter distribution: (1) the optimal transition regime does not converge to the steady state that maximizes land expectation value (LEV) using the Faustmann equation; (2) the PNW of the optimal transition and steady-state regime is greater than the PNW of the statically determined steady-state regime; and (3) the optimal steady-state regime is invariant. A refined version of a recently published dynamic optimization algorithm is provided and demonstrated with a whole-stand/diameter-class simulator for hardwood stands in Wisconsin. Optimal management regimes are computed for comparison with a static equilibrium management regime and for analysis of the effect of cutting-cycle length on harvest pattern and PNW.
Keywords: Forest economics, optimal harvesting, nonlinear programming, gradient method
- We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
- This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.
- This publication may be available in hard copy. Check the Northern Research Station web site to request a printed copy of this publication.
- Our on-line publications are scanned and captured using Adobe Acrobat. During the capture process some typographical errors may occur. Please contact Sharon Hobrla, email@example.com if you notice any errors which make this publication unusable.
XML: View XML
Haight, Robert G. 1985. A comparison of dynamic and static economic models of uneven-aged stand management. Forest Science 31(4):957-974
Get the latest version of the Adobe Acrobat reader or Acrobat Reader for Windows with Search and Accessibility