Document Type
Article
Journal/Book Title/Conference
Economic Research Institute Study paper
Publisher
Utah State University
Publication Date
3-1-1986
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
12
Abstract
The Faustmann model has played a key role in the determination of optimal forest rotations. Faustmann (1849) developed a simple and deterministic competitive economic model, the objective of which was to maximize the present value of perpetual returns to the fixed factor, a unit of timber land. The optimal rotation problem thus viewed is a timber management problem abstracting from the multiple use characteristics of a forest stand and any environment of uncertainty. Hartman (1976) developed a modified deterministic Faustmann model where a standing forest has value in the form of "recreation", a general term used to capture non-timber forest uses. He did not consider regeneration costs and the costs of making recreation available to users.
Recommended Citation
Bhattacharyya, Rabindra N. and Snyder, Donald L., "Stumpage Price Uncertainty and the Optimal Rotation of a Multiple Use Forest: An Application of Sandmo Model" (1986). Economic Research Institute Study Papers. Paper 439.
https://digitalcommons.usu.edu/eri/439