ON THE OPTIMAL DEPLETION OF OLD-GROWTH FORESTS AND THE PRESERVATION OF WILDERNESS

Theodore Graham-Tomasi

No 13405, Staff Papers from University of Minnesota, Department of Applied Economics

Abstract: The problem of optimal depletion of old-growth forests and establishment of plantations is explored. The old-growth has value for the timber products it contains and the wilderness services it provides if left unharvested. The optimal amount of wilderness preserved in the steady-state is characterized and found to increase with increased interest rates and decreased cost of production. The wilderness preserve is largest when silvicultural effort is utilized optimally in plantations. The problem of small initial stock sizes is investigated.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 57
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:ags:umaesp:13405

DOI: 10.22004/ag.econ.13405

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