<abstract xmlns="http://www.w3.org/1999/xhtml"><p> The central task of this research was to choose the age at which stands of growing timber should be harvested. The choice governs how long each stand must continue to earn interest, and also governs the size of the total inventory that must be maintained to sustain the annual harvest. It is a problem that calls for analysis of biological as well as economic relationships over time, and has intrigued economists for more than two centuries. The paper presents the theoretical background and results of economic optimization of the rotation age of a single stand. It analyses the timber production function depending on rotation age, growth, cost and other characteristics of forest, as well as the costs of land. The prerequisite for achieving the economic optimum of the rotation age of a stand is to balance the current increase in the total timber production value (growth and yield) and the value of opportunity costs from delaying cutting till the next year. This paper demonstrates how this economically optimum rotation age can be calculated, and how it varies according to the biological growth and economic parameters of the forest.</p></abstract>

The central task of this research was to choose the age at which stands of growing timber should be harvested. The choice governs how long each stand must continue to earn interest, and also governs the size of the total inventory that must be maintained to sustain the annual harvest. It is a problem that calls for analysis of biological as well as economic relationships over time, and has intrigued economists for more than two centuries. The paper presents the theoretical background and results of economic optimization of the rotation age of a single stand. It analyses the timber production function depending on rotation age, growth, cost and other characteristics of forest, as well as the costs of land. The prerequisite for achieving the economic optimum of the rotation age of a stand is to balance the current increase in the total timber production value (growth and yield) and the value of opportunity costs from delaying cutting till the next year. This paper demonstrates how this economically optimum rotation age can be calculated, and how it varies according to the biological growth and economic parameters of the forest.

Economic optimization of the rotation age of stands

University of Lodz, Forest Sciences Institute, Konstytucji 3 Maja 65/67, 97-200 Tomaszów Mazowiecki,

Forest Research Institute, Department of Forest Resources Management, Sękocin Stary, Braci Leśnej 3, 05-090 Raszyn,

Warsaw University of Life Sciences – SGGW, Faculty of Forestry, Department of Forest Management Planning, Geomatics

Forest Economics, Nowoursynowska 159, 02-776 Warsaw,

Warsaw University of Life Sciences – SGGW, Faculty of Forestry, Department of Forest Management Planning, Geomatics and Forest Economics, Nowoursynowska 159, 02-776 Warsaw,

Folia Forestalia Polonica

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"Economic optimization of the rotation age of stands"}

The central task of this research was to choose the age at which stands of growing timber should be harvested. The choice governs how long each stand must...

Economic optimization of the rotation age of stands

Data publikacji: 30 gru 2016

Zakres stron: 188 - 197

Otrzymano: 12 lip 2016

Przyjęty: 14 lis 2016

DOI: https://doi.org/10.1515/ffp-2016-0022

Słowa kluczowe
forest stand, sustain yield, timber production function, value, growth, costs

© 2017

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Economic optimization of the rotation age of stands

Data publikacji: 30 gru 2016

Zakres stron: 188 - 197

Otrzymano: 12 lip 2016

Przyjęty: 14 lis 2016

DOI: https://doi.org/10.1515/ffp-2016-0022

Słowa kluczoweforest stand, sustain yield, timber production function, value, growth, costs

© 2017

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Słowa kluczowe
forest stand, sustain yield, timber production function, value, growth, costs