Did Pressler Understand how to Use the Indicator Per Cent

Peichen Gong () and Löfgren, Karl-Gustaf ()
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Peichen Gong: Faculty of Forest Sciences, Postal: SLU, Skogsmarksgränd, SE-901 83 Umeå, , Sweden
Löfgren, Karl-Gustaf: Department of Economics, Umeå University, Postal: S 901 87 Umeå, Sweden

No 764, Umeå Economic Studies from Umeå University, Department of Economics

Abstract: A classical problem in forestry is the determination of the optimal rotation. This problem was solved during the 19th century, by German forest mathematicians. Martin Faustmann deserves some of the fame. However, he did not explicitly derive the conditions for an optimal solution. His contender is Max Robert Pressler. He invented the concept of Indicator Per Cent, which can be used to determine whether a stand is mature for harvesting or not. Did Pressler fully realize this? Having analyzed some of the relevant literature our answer is no.

Keywords: Optimal rotation; Die Weiserprocent (The Indicator Per Cent) (search for similar items in EconPapers)
JEL-codes: B16 Q23 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his
Date: Written
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