An economic analysis of double-cohort forest resources

Andreas Halbritter

Journal of Forest Economics, 2015, vol. 21, issue 1, 14-31

Abstract: Under increasing economic pressure the use of natural regeneration is steadily gaining importance in the forest sector. Double-cohort stand systems, such as seed-trees, shelterwood and many two-aged variations supporting natural seeding, are common silvicutural practices. This paper presents a unified economic approach integrating the most common management alternatives of a double-cohort forest resource in one generalized deterministic model. A three-dimensional problem is solved for regeneration age, overstory density and removal cut maximizing the land expectation value and analyzed in a comparative static analysis. The findings of the model analysis are discussed in a comparison with even- and uneven-aged management. In addition, the dynamic even-aged thinning problem is extended to two age-classes and solved.

Keywords: Uneven-aged forest management; Double-cohort resource; Generalized Faustmann model; Shelterwood; Seed-tree method; Growth competition; Natural regeneration (search for similar items in EconPapers)
JEL-codes: Q23 Q56 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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DOI: 10.1016/j.jfe.2014.11.001

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