Economic Research Institute Study paper
Utah State University
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The disparity between theory and practice has definitely contributed to a continuing interest in the determination of the optimal harvest age for a growing forest. The Faustmann model has played a key role in this respect. The optimal rotation problem, as viewed by Faustmann (1849), is a timber management problem when knowledge of the forest operator about the resource biomass is certain and depends only on the natural biological growth characteristics of the tree population.
Bhattacharyya, Rabindra N. and Snyder, Donald L., "A Note on the Optimal Forest Rotation When Non-Operators Deplete Resource Stock" (1985). Economic Research Institute Study Papers. Paper 428.