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Title: The Optimal Forest Rotation: A Discussion and Annotated Bibliography
Author: Newman, David H.;
Source: Gen. Tech. Rep. SE-48. Asheville, NC: U.S. Department of Agriculture, Forest Service, Southeastern Forest Experiment Station. 47 p.
Publication Series: General Technical Report (GTR)
Description: The literature contains six different criteria of the optimal forest rotation: (1) maximum single-rotation physical yield, (2) maximum single-rotation annual yield, (3) maximum single-rotation discounted net revenues, (4) maximum discounted net revenues from an infinite series of rotations, (5) maximum annual net revenues, and (6) maximum internal rate of return. First-order conditions for maximization show the rotation effects of the criteria. Various authors have extended basic models and discussed effects of externalities, imperfect markets, changing parameters, and taxes.
Keywords: Forest economics, forest valuation, harvest scheduling
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Newman, David H. 1988. The Optimal Forest Rotation: A Discussion and Annotated Bibliography. Gen. Tech. Rep. SE-48. Asheville, NC: U.S. Department of Agriculture, Forest Service, Southeastern Forest Experiment Station. 47 p.
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