Significance of Private Forest Owner's Economic Goals in the Forest Stand Regeneration Decision

1992

71 S.

zahlr. Lit. Ang.

Bandaufführung

2628

37306

Forest stand regeneration is considered to be an economic decision problem. The objective of this decision problem is the maximization of the net present value from timber production. The economic optimization of the regeneration in this approach is based on predetermined regeneration chains. The optimization of forest regeneration is first analysed assuming a perfectly competitive financial market. The latter results are then compared with those achieved by optimization assuming an imperfectly competitive financial market. The owner's constraints are evaluated by including a simple liquidity constraint into the optimization. The economic optimization of forest regeneration is applied empirically to the case study of a pine stand on the VT-site type class in Southern Finland. Five predetermined alternatives are defined based on 1) natural regeneration, 2) seeding and 3) planting.