Document Type
Article
Journal/Book Title/Conference
Economic Research Institute Study paper
Publisher
Utah State University
Publication Date
5-1-1985
Rights
Copyright for this work is held by the author. Transmission or reproduction of materials protected by copyright beyond that allowed by fair use requires the written permission of the copyright owners. Works not in the public domain cannot be commercially exploited without permission of the copyright owner. Responsibility for any use rests exclusively with the user. For more information contact the Institutional Repository Librarian at digitalcommons@usu.edu.
First Page
1
Last Page
28
Abstract
The Faustmann model has played a key role in the determination of optimal forest rotations. Faustmann introduced a simple and deterministic competitive economic model, the objective of which was to maximize the present value of perpetual returns to the fixed factor of production, a unit of timber land. The optimal rotation problem, as viewed by him, is a timber management problem abstracting from the important multiple use characteristics of forest land. Hartman (1976) and Strang (1983) developed a modified Faustmann model where the forest resource stock 'per se' is assumed to have consumptive value in the form of "recreation", a general term used to capture non-timber forest uses.
Recommended Citation
Snyder, Donald L. and Bhattacharyya, Rabindra N., "Costs, Benefits and the Optimal Rotation of Standing Forests" (1985). Economic Research Institute Study Papers. Paper 422.
https://digitalcommons.usu.edu/eri/422