IDEAS home Printed from https://ideas.repec.org/a/taf/mpopst/v11y2004i3-4p205-232.html
   My bibliography  Save this article

Optimal Harvesting Of Forest Age Classes: A Survey Of Some Recent Results

Author

Listed:
  • OLLI TAHVONEN

Abstract

Dynamic optimization problems with vintage or age class structures involve complexities that are not encountered in economic models with fewer state variables. These problems have been faced for centuries in forest harvesting decisions, and the earliest ideas for tackling them date from the early 15th century. However, only recently has the harvesting problem with multiple age classes been specified in a form that is fruitful for economic analysis. This survey discusses some of the main properties of the nonlinear discrete time forestry model, which has proven to be tractable in analytical studies and has been used in empirical policy-oriented research. It is shown that the model's stationary state is represented by a set of cyclic solutions and that the maximum radius of the cycle depends on the period length applied in the model specification. The result suggests that it is essential to note that implications of using continuous or discrete variables in specifying time and age structure in age class models with economic optimization.

Suggested Citation

  • Olli Tahvonen, 2004. "Optimal Harvesting Of Forest Age Classes: A Survey Of Some Recent Results," Mathematical Population Studies, Taylor & Francis Journals, vol. 11(3-4), pages 205-232.
    • Handle: RePEc:taf:mpopst:v:11:y:2004:i:3-4:p:205-232
    DOI: 10.1080/08898480490513616
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/08898480490513616
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/08898480490513616?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Wan, H.Jr., 1989. "Durable Assets And Replacement Cycles," Papers 419, Cornell - Department of Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Viitala, Esa-Jussi, 2006. "An early contribution of Martin Faustmann to natural resource economics," Journal of Forest Economics, Elsevier, vol. 12(2), pages 131-144, June.
    2. Fabbri, Giorgio & Faggian, Silvia & Freni, Giuseppe, 2015. "On the Mitra–Wan forest management problem in continuous time," Journal of Economic Theory, Elsevier, vol. 157(C), pages 1001-1040.
    3. Koster, Roman & Fuchs, Jasper M., 2022. "Opportunity costs of growing space – an essential driver of economical single-tree harvest decisions," Forest Policy and Economics, Elsevier, vol. 135(C).
    4. Adriana Piazza, 2009. "The optimal harvesting problem with a land market: a characterization of the asymptotic convergence," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 40(1), pages 113-138, July.
    5. Sloggy, Matthew R. & Kling, David M. & Plantinga, Andrew J., 2020. "Measure twice, cut once: Optimal inventory and harvest under volume uncertainty and stochastic price dynamics," Journal of Environmental Economics and Management, Elsevier, vol. 103(C).
    6. Terry Heaps, 2016. "Multiple Use Values and Convergence of Optimal Harvesting Policies," Discussion Papers dp16-09, Department of Economics, Simon Fraser University.
    7. Xabadia, Angels & Goetz, Renan U., 2010. "The optimal selective logging regime and the Faustmann formula," Journal of Forest Economics, Elsevier, vol. 16(1), pages 63-82, January.
    8. Adriana Piazza & Bernardo Pagnoncelli, 2014. "The optimal harvesting problem under price uncertainty," Annals of Operations Research, Springer, vol. 217(1), pages 425-445, June.
    9. Stéphane S. Couture & Marie-Josée Cros & Régis Sabbadin, 2014. "Risk preferences and optimal management of uneven-aged forests in the presence of climate change: a Markov decision process approach," Post-Print hal-02741407, HAL.
    10. Adriana Piazza & Santanu Roy, 2020. "Irreversibility and the economics of forest conservation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 69(3), pages 667-711, April.
    11. Couture, Stéphane & Reynaud, Arnaud, 2011. "Forest management under fire risk when forest carbon sequestration has value," Ecological Economics, Elsevier, vol. 70(11), pages 2002-2011, September.
    12. Couture, Stéphane & Cros, Marie-Josée & Sabbadin, Régis, 2016. "Risk aversion and optimal management of an uneven-aged forest under risk of windthrow: A Markov decision process approach," Journal of Forest Economics, Elsevier, vol. 25(C), pages 94-114.
    13. Laukkanen, Matti & Tahvonen, Olli, 2023. "Wood product differentiation in age-structured forestry," Resource and Energy Economics, Elsevier, vol. 73(C).
    14. Terry Heaps, 2014. "Convergence of Optimal Harvesting Policies to a Normal Forest," Discussion Papers dp14-01, Department of Economics, Simon Fraser University.
    15. Morag F. Macpherson & Adam Kleczkowski & John R. Healey & Nick Hanley, 2018. "The Effects of Disease on Optimal Forest Rotation: A Generalisable Analytical Framework," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 70(3), pages 565-588, July.
    16. Heaps, Terry, 2015. "Convergence of optimal harvesting policies to a normal forest," Journal of Economic Dynamics and Control, Elsevier, vol. 54(C), pages 74-85.
    17. COUTURE Stephane & REYNAUD Arnaud, 2006. "Multi-stand Forest Management Under a Climatic Risk: Do time and Risk Preferences Matter?," LERNA Working Papers 06.17.210, LERNA, University of Toulouse.
    18. Max Bruciamacchie & Marielle Brunette & Jacques-Alexandre Laye & Anne Stenger-Letheux & Arnaud Reynaud, 2008. "Instruments économiques pour une gestion optimale d’un peuplement forestier exploité par sa production ligneuse et son captage du gaz carbonique en situation risquée," Working Papers hal-01189362, HAL.
    19. B. Ainseba & L. Louison & A. Omrane, 2022. "A Population Harvesting Model with Time and Size Competition Dependence Function," Journal of Optimization Theory and Applications, Springer, vol. 195(2), pages 647-665, November.
    20. Khan, M. Ali, 2016. "On a forest as a commodity and on commodification in the discipline of forestry," Forest Policy and Economics, Elsevier, vol. 72(C), pages 7-17.
    21. Piazza, Adriana & Roy, Santanu, 2015. "Deforestation and optimal management," Journal of Economic Dynamics and Control, Elsevier, vol. 53(C), pages 15-27.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.

      More about this item

      Statistics

      Access and download statistics

      Corrections

      All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:mpopst:v:11:y:2004:i:3-4:p:205-232. See general information about how to correct material in RePEc.

      If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

      If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

      If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

      For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/GMPS20 .

      Please note that corrections may take a couple of weeks to filter through the various RePEc services.

      IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.