The impact of estimation errors on evaluations of timber production opportunities.

Dennis L. Schweitzer

Treesearch

The impact of estimation errors on evaluations of timber production opportunities.

Informally Refereed

Authors:

Dennis L. Schweitzer

Year:

1970

Type:

Research Paper

Station:

Northern Research Station

Source:

Research Paper NC-43. St. Paul, MN: U.S. Dept. of Agriculture, Forest Service, North Central Forest Experiment Station

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Download (PDF 2.29 MB): https://research.fs.usda.gov/download/treesearch/10564.pdf

Abstract

Errors in estimating costs and return, the timing of harvests, and the cost of using funds can greatly affect the apparent desirability of investments in timber production. Partial derivatives are used to measure the impact of these errors on the predicted present net worth of potential investments in timber production. Graphs that illustrate the impact of each type of estimation error and a computer routine to perform the necessary computations are included.

Keywords

estimation errors, timber production evaluation

Citation

Schweitzer, Dennis L. 1970. The impact of estimation errors on evaluations of timber production opportunities. Research Paper NC-43. St. Paul, MN: U.S. Dept. of Agriculture, Forest Service, North Central Forest Experiment Station