The Optimal Forest Rotation: A Discussion and Annotated Bibliography

David H. Newman

doi:10.2737/SE-GTR-48

Treesearch

The Optimal Forest Rotation: A Discussion and Annotated Bibliography

Informally Refereed

Authors:

David H. Newman

Year:

1988

Type:

General Technical Report

Station:

Southern Research Station

DOI:

https://doi.org/10.2737/SE-GTR-48

Source:

Gen. Tech. Rep. SE-48. Asheville, NC: U.S. Department of Agriculture, Forest Service, Southeastern Forest Experiment Station. 47 p.

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Abstract

The literature contains six different criteria of the optimal forest rotation: (1) maximum single-rotation physical yield, (2) maximum single-rotation annual yield, (3) maximum single-rotation discounted net revenues, (4) maximum discounted net revenues from an infinite series of rotations, (5) maximum annual net revenues, and (6) maximum internal rate of return. First-order conditions for maximization show the rotation effects of the criteria. Various authors have extended basic models and discussed effects of externalities, imperfect markets, changing parameters, and taxes.

Keywords

Forest economics, forest valuation, harvest scheduling

Citation

Newman, David H. 1988. The Optimal Forest Rotation: A Discussion and Annotated Bibliography. Gen. Tech. Rep. SE-48. Asheville, NC: U.S. Department of Agriculture, Forest Service, Southeastern Forest Experiment Station. 47 p.