Determination of the optimal rotation age: A theoretical analysis

Document Type

Article

Publication Date

1-1-1984

Abstract

This paper systematically analyzes the problem of the determination of the optimal rotation age. Using the land expectation value model, it shows that at the optimal rotation age t*, the marginal revenue product (MRP) of letting the stand grow one more year must equal the marginal input cost (MIC) of doing so. The relationships between regeneration cost (C), interest rate (r), stumpage price level P(t) and the optimal rotation age are then analyzed graphically. The relationships between the land expectation value model, the present net worth model, the forest rent model and the traditional biological model are also examined. It is shown that the last three models are special cases of the land expectation value model. © 1984.

Publication Source (Journal or Book title)

Forest Ecology and Management

First Page

137

Last Page

147

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