Economics of naturally regenerating heterogeneous forests

Tutkimustuotos: ArtikkelijulkaisuArtikkeliTieteellinenvertaisarvioitu

Kuvaus

An economic model for naturally regenerating, heterogeneous forests is specified to yield both clear-cuts and continuous cover forestry endogenously. The model includes nonconvexities and any number of state variables but is, in its simplest form, a one-state variable problem. Clear-cuts with various rotation lengths and continuous harvesting appear as locally optimal solutions. Necessary and sufficient conditions for the local and global optimality of these two forest management types are obtained. Discounting is found to increase rotation length and to favor continuous harvesting. Initial state may determine the optimality of continuous forest cover versus clear-cuts. The relative value of large trees is an important factor in the optimality of different solutions. Analytical results are demonstrated by an empirical application.
Alkuperäiskielienglanti
LehtiJournal of the Association of Environmental and Resource Economics
Vuosikerta2
Numero2
Sivut309-337
Sivumäärä28
ISSN2333-5955
DOI - pysyväislinkit
TilaJulkaistu - kesäkuuta 2015
OKM-julkaisutyyppiA1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä, vertaisarvioitu

Tieteenalat

  • 4112 Metsätiede
  • 511 Kansantaloustiede

Lainaa tätä

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abstract = "An economic model for naturally regenerating, heterogeneous forests is specified to yield both clear-cuts and continuous cover forestry endogenously. The model includes nonconvexities and any number of state variables but is, in its simplest form, a one-state variable problem. Clear-cuts with various rotation lengths and continuous harvesting appear as locally optimal solutions. Necessary and sufficient conditions for the local and global optimality of these two forest management types are obtained. Discounting is found to increase rotation length and to favor continuous harvesting. Initial state may determine the optimality of continuous forest cover versus clear-cuts. The relative value of large trees is an important factor in the optimality of different solutions. Analytical results are demonstrated by an empirical application.",
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Economics of naturally regenerating heterogeneous forests. / Tahvonen, Olli Ilari.

julkaisussa: Journal of the Association of Environmental and Resource Economics, Vuosikerta 2, Nro 2, 06.2015, s. 309-337.

Tutkimustuotos: ArtikkelijulkaisuArtikkeliTieteellinenvertaisarvioitu

TY - JOUR

T1 - Economics of naturally regenerating heterogeneous forests

AU - Tahvonen, Olli Ilari

PY - 2015/6

Y1 - 2015/6

N2 - An economic model for naturally regenerating, heterogeneous forests is specified to yield both clear-cuts and continuous cover forestry endogenously. The model includes nonconvexities and any number of state variables but is, in its simplest form, a one-state variable problem. Clear-cuts with various rotation lengths and continuous harvesting appear as locally optimal solutions. Necessary and sufficient conditions for the local and global optimality of these two forest management types are obtained. Discounting is found to increase rotation length and to favor continuous harvesting. Initial state may determine the optimality of continuous forest cover versus clear-cuts. The relative value of large trees is an important factor in the optimality of different solutions. Analytical results are demonstrated by an empirical application.

AB - An economic model for naturally regenerating, heterogeneous forests is specified to yield both clear-cuts and continuous cover forestry endogenously. The model includes nonconvexities and any number of state variables but is, in its simplest form, a one-state variable problem. Clear-cuts with various rotation lengths and continuous harvesting appear as locally optimal solutions. Necessary and sufficient conditions for the local and global optimality of these two forest management types are obtained. Discounting is found to increase rotation length and to favor continuous harvesting. Initial state may determine the optimality of continuous forest cover versus clear-cuts. The relative value of large trees is an important factor in the optimality of different solutions. Analytical results are demonstrated by an empirical application.

KW - 4112 Forestry

KW - 511 Economics

U2 - 10.1086/681587

DO - 10.1086/681587

M3 - Article

VL - 2

SP - 309

EP - 337

JO - Journal of the Association of Environmental and Resource Economics

JF - Journal of the Association of Environmental and Resource Economics

SN - 2333-5955

IS - 2

ER -